Draft of Lease Deed
Understanding Of Lease Deed-
Lease is one kind of contract where two parties enter into lease contract by executing all the legal formalities followed by a Lease Deed. Lessor is the absolute owner of the property which he gives on lease to the Lessee. Lessee is the person who takes/ acquires the rights to use and enjoy the given property on lease from the Lessor against a consideration for a stipulated time. Section 105 of Transfer Of Property Act,1882 defines the term lease with other details.
Essential features of a Lease Deed-
- There must be two parties who will enter into the Lease Agreement;
- The Lessor must be competent enough to transfer the property right on lease/ to make a lease contract;
- The absolute owner of the property who gives his property on lease against the consideration is known as a Lessor & the person who acquires the right to enjoy such property under lease deed by giving consideration as a price paid or promised or of money/a share of crop/ service /any other thing of value to be rendered periodically or on specific occasion to the Lessor;
- The duration of Lease for enjoying the right over the leasehold property may be for a certain time/ in perpetuity;
- Consideration can be given by one time/ partly paid & partly promised/ promised/ by transferring any advance amount followed by subsequent rents on any specific occasion etc;
- There must be some clauses which will specify the rights & liabilities of the Lessor & Lessee;
- Sub lease related point can also be incorporated subject to certain extent & requirement of the client;
- The deed must have a point regarding the grounds on which termination of Lease Deed shall be come into operation.
How to get your Lease Deed drafted and Registered through DiLSEWiLL-
- Please do connect to our Customer Care Executive at 9830648068/8017053224. You may also mail your queries to [email protected]. Live chat is functional on our website from 10:30 am to 7:00 pm on weekdays.
- A quotation shall be emailed to you after taking all necessary information from your end
- After approval of the quotation, the agreed charges will need to be deposited by you.
- The procedure for drafting the Lease deed will then be initiated.
