Under Maharashtra`s Rent Control Act, 1999, a leave and licensing agreement between a licensee and a licensee must be written and registered in accordance with the 1908 Registration Act. This means that this rule applies throughout Maharashtra and not just in Mumbai. (10% of the refundable bond) – (year`s number for which the agreement is made) – z Registration essentially means that you apply a seal of authenticity to the agreement, which means that an unregistered agreement is considered incidental by the courts and never as the main evidence. For technically experienced and super-busy people, it couldn`t be easier to save your vacation and your license document. There are tools available online that offer document production and electronic recording services. The Maharashtra Govt. many have taken an initiative to simplify the whole process, and that is why e-registration has become so popular. Here`s what you need to know about e-recording your vacation and licensing document- 9. The premises granted are made available to the licensee on a personal basis and the licensee or his official who has the same title cannot transfer the benefits of this agreement to others or is not allowed to allow someone else to occupy the premises or their parties. Nothing in this agreement is considered a lease or lease, and the taker agrees and undertakes that the taker will not supervise such a dispute at any time. Stamp duty is the tax collected as compensation for the validity of your agreements.
Stamp duty for different documents varies from state to state. As a general rule, for leave and licensing agreements, it is up to the licensee/lesser to pay the recommended stamp duty for the contract. In accordance with Article 36 A of the Bombay Stamp Act, 1958, stamp duty for holiday and licensing agreements is 0.25% of the tax base calculated under the following formula imposed by the Maharashtra government – 13. If the taker commits a violation of a clause in this agreement, the licensee has the right to terminate the contract up to fifteen days before notification to the licensee, regardless of the terms of that contract. Any commission or omission committed by the agent of the licensee occupying the premises granted is considered to be an act of omission or omission of the licensee.