Leave and License in Noida Extension
People from different cities are shifting in Noida Extension in search of opportunities and consequently the demand for rental properties is increasing. If you are one of those people who are planning to settle in rented house then you need to have a Leave and License agreement.
Leave and License Agreement in Noida Extension
Leave and License Agreement is a document which provides the licensee permission to occupy licensor property on leave and license basis. This agreement is not transferable because a license generates personal rights. Duration off agreement is 11 months.
Details to be included in Leave and License Agreement
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 Leave and License Agreement
- It makes eviction easier.
- It indicates permission to occupy another person’s property.
- It does not create property rights in favor of lessee.
- It protects the right of tenant to stay for certain duration and gives surety of the conditions of the stay.
- It 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.
How we can help you?
Contact us for drafting of leave and License Agreement in Noida Extension. Our team of renowned property lawyers will also assist you in best possible way. Call us now and avail our fast and hassle free services.