Property Law

now browsing by category

 

Leave and License Agreement

A Leave and License agreement is an agreement made when a certain residential property is given on rent.

So why not prepare a rent agreement and why a leave and license agreement?

A rental agreement is also known as a lease agreement and in a RENTAL AGREEMENT THERE IS TRANSFER OF INTEREST IN THE PROPERTY from the person who owns it to the person who is leasing it.

However in a LEAVE AND LICENSE AGREEMENT there is no transfer of interest, it is only GRANTING OF PERMISSION to the other party to stay in our house for a specific period of time on the terms and conditions mentioned in the agreement.

That is why whenever any property is given on rent we prepare a Leave and License Agreement and not a Rental Agreement.

Following clauses should be mentioned while drafting a Leave and License Agreement: Read More…