This agreement is made by a person to lease his/her land to his/her own firm of which he/she is the proprietor. Any person can give his/her/their property on rent to any person/firm/company on Leave and License basis for a temporary period either for residential use or business purpose, on certain terms and conditions. This agreement is made by the licensor leases his land to his own firm of which he is the proprietor on agreed terms and conditions.
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1 |
What is a lease agreement? |
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Ans. |
Lease is a transfer of property
with a right to the transferee to enjoy the same, for a fixed period or even
in perpetuity in consideration of some price or premium or in consideration
of the payment of rent. |
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2 |
Can a lease be renewed? |
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Ans. |
Yes. Lease can be renewed either
under the option to renew given by the lease deed or by mutual consent after
the period of the lease has expired or it is determined earlier. But such a
renewal can be affected only by a fresh deed of lease whether the terms of
the new lease are the same or not. |
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3 |
Does lease need to be registered? |
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Ans. |
Yes. An agreement of lease (with
possession) and a lease for a period of 1 year or more has to be compulsorily
registered. An agreement to lease (without possession) is not required to be
registered. Lease of more than one year, assignment of lease, surrender of
lease & sub-lease are all required to be registered. |
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4 |
What is surrender of lease? |
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Ans. |
It is a voluntary act of the
parties whereby with the landlord’s consent the tenant surrenders his lease
to the landlord so that the lease merges with the reversion & is thus
brought to an end. |
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5 |
What is deed of sub lease? |
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Ans. |
Lessee can create sub lease of his
interest in the property by subletting the property either for whole or
remaining term or for any shorter period. Sub lease can also be created for a
part of the demised property. |
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STEP 1 |
Fill in the blank spaces. Delete
instructions highlighted in grey. |
Fill
in the blank spaces. Delete instructions highlighted in grey. E.g. Name,
address, date etc. |
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STEP 2 |
Alternations: |
Add
or delete a clause according to your needs. Re-check the document. |
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STEP 3 |
Stamp Paper |
The
Stamp Duty value will be made available to you at your legaljini account on
purchase of the document. |
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Stamp Duty Payment option 1 |
If you
wish to print Agreement on Stamp Paper, you can buy from court/ Stamp office
and said Stamp paper will be used as 1st page of Agreement. If you wish to
have 2 copies of Agreement you should buy 2 Stamp Papers (one Stamp Paper for
each copy) |
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Stamp Duty Payment option 2 |
If
you have facility of franking for Stamp Duty payment at nearest bank, you
need to print the Agreement & get franking done. If you wish to have 2
copies of Agreement you should frank 2 copies (one copy for each party) |
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Ledger Paper |
The
rest of the document must be printed on SINGLE SIDES OF A SHEET of
Ledger Paper |
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Available at: |
This
Legal Size Green Paper is available at any stationery shop. |
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STEP 4 |
Printing on Legal Paper: |
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On Stamp Paper |
Print
ONLY on the blank portion of the stamp paper. |
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On Ledger Paper |
Print
on a SINGLE SIDE of a sheet of Ledger Paper. |
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STEP 5 |
Number of Copies Needed: |
Generally
it is made two copies (one copy for each party) |
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STEP 6 |
Photographs & Signatures/
Thumb Impression & Initials: |
The
concerned parties should sign, or affix their mark and recent passport size photograph
against their names on the last page of the document. This document must
initialed or marked by the concerned parties at the end of every page. In
addition or corrections/ alterations made after printing must be initialed. |
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STEP 7 |
Witness Attestation (Both
Parties): |
This
document must be attested by at least two witnesses from both sides. |
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STEP 8 |
Registration/ Notary |
Registration
or Notary is mandatory for some documents. If you need clarification you may
contact our Helpline at support@legaljini.com
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Please
contact the nearest Sub Registrar office for registration of this document. |
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You
Need to Know: |
As
per recent orders Police NOC is required to obtain from the police under
whose jurisdiction the property to be licensed is situated. |
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Please contact our Helpline if
you have any difficulty. |
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