Leave and License in Greater Noida
Leave and License in Greater Noida -People living in Greater Noida usually opt for leave and license in which the owner leaves the place with various facilities and gives the limited right to licensee to use his premises and licensee should not make major alterations in the property. In such situations, problems may arise between both of them and to avoid such problems and to protect yourself, it is necessary to draw up a leave and license agreement carefully.
Leave and License Agreement in Greater Noida
A leave and license agreement in greater Noida is an agreement that gives the licensee permission to occupy licensor’ property. The occupancy is granted on leave and license basis and not on tenancy basis.
Following are some general provisions which should be included in a leave and license agreement:
- Definition of Licensor and Licensee
- Title of Licensor
- Title of Licensee
- Definition of premises
- Term of License
- Use of premises
- Consideration for license
- Security Deposit
- Furniture & Fixtures
- Other Costs & charges
- Common Facilities
- Right to Sub License
- Termination of License
Benefits of Lease and License Agreement in Greater Noida
For Licensor
- Lease and License Agreement is a legal document that binds tenants for paying security and rent amount for the purpose of use of property. If tenant fails to do so legal action can be taken against him by the licensor.
- It allows the licensor to take more measures in case eviction is required of the licensee from the property as they are generally entered for a period of 11 months with an option to renew the agreement on its expiration.
- Since the property price is increasing day by day, having such an agreement can help to re-claim the licensor’s property in case of a dispute.
- An action can be initiated on the unlawful tenant who is occupying the property after the termination of license.
For Licensee
- Leave and License Agreements are the legal document which binds the licensor in terms of security amount, rent amount, duration of stay, and other payables for the use of property that cannot be changed once the agreement is signed by both the parties.
- It protects the right of tenant to stay for certain duration and gives surety of the conditions of the stay.
Just contact us for the drafting of Lease and License Agreement in Greater Noida. Our experts are always available for consultation also. Call us now to avail our services.