Can wife come in a rent agreement as the property is in my name?


I own a single story house. On mutual agreement with my wife, she has constructed the upper floor out of her own resources and wants to let out the same.

 

Kindly clarify :- 1. whose will be the Tax liability on the rent received for the upper floor. 2. Who can make the rent agreement with tenants ? 3. Can my wife make rent agreement though legally property is on my name, and if not what formality is to be completed to empower my wife to make rent agreement and to receive the rent?

Answer

As mentioned by you, in case the floor has been constructed by your wife on mutual agreement with you, you may execute a GPA in her name stating that you allow her to construct and manage the upper floor for all expenses and income from the same.

 

Once the GPA is executed, she can enter into the rental agreement with the tenants despite you being the legal owner of the property.

 

Tax liability for the rent received for the upper floor will fall upon the person who receives the rent and enters into the rental agreement with the tenants.


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