now browsing by tag
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…