Legal Question in Banking Law in India

Whether lease deed of 5 years requires to be registered

Will any bank be justified if it insists on registered lease deed for 5 years of a premises extendable to 2 further years on mutual satisfaction for running a business activity.Can a loan be refused by Bank on the pretext that the lease is not registered and it will not consider loan period beyond 5 years


Asked on 3/15/09, 2:27 am

4 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Whether lease deed of 5 years requires to be registered

Yes, the bank may be entitled to stipulate its terms and conditions for grant of a loan.

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Answered on 3/15/09, 7:47 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Whether lease deed of 5 years requires to be registered

yes

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Answered on 3/15/09, 9:12 am
J. Radhakrishnan independent Practice

Re: Whether lease deed of 5 years requires to be registered

yes, as per Transfer of Property Act, a lease deed for more than a year needs to be registered. In fact as per the said Act, even a lease deed for a year needs registration

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Answered on 3/15/09, 10:38 am
Pranav Desai PD Legal & Associates

Re: Whether lease deed of 5 years requires to be registered

The criteria for a loan will depend on the policy of the bank and there is no guided law on this issue.

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Answered on 3/15/09, 2:05 pm


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