Section 107 of Transfer of Property Act - Leases how made
Section 107 Transfer of Property Act Description
A lease of immovable property for any term exceeding one year, and reserving a yearly rent, exceeding rupees fifty can be made only by a registered instrument.
All other leases of immoveable property may be made either by a registered instrument or by oral agreement accompanied by delivery of possession :
Provided that [Government] may, from time to time, by notification in the Jammu and Kashmir Government Gazette, direct that leases of immoveable property, other than leases for any term exceeding one year, and reserving a yearly rent, exceeding rupees fifty or any class of such leases, may be made by unregistered instrument or by oral agreement without delivery of possession.
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