In India, a vendor or tenant and the owner of the property enter into a written contract known as a leave and licence agreement. When one of them grants permission for it to be used for a period of time for an agreed-upon rent, it becomes a reality. But what should be the period for the agreement? So let me tell you what is the maximum period for leave and license agreement.
Make your agreement via NoBroker and get it delivered to your home. Know about leave and license agreements from the experts at NoBroker.What is the maximum tenure of leave and license agreement in Mumbai?
You must properly stamp the Leave & Licence document and register in accordance with the Maharashtra Rent Control Act 1999. Given that a lease agreement must be taken into for a lengthier period, the duration should be fewer than 60 months. The Leave and Licence agreement may be renewed without restriction. It is crucial to specifically refer to how Section 24 of the Maharashtra Rent Control Act 1999 is applied.
What are each party's duties under a leave and licence agreement?
The landlord is responsible to give the tenant a home that is secure and comfortable. They are also in charge of fixing any harm to the property brought on by ordinary wear and tear. The renter is in charge of maintaining the property and making on-time rent payments. Additionally, they must not harm the property in any way beyond natural wear and tear.
Both parties could be held accountable for damages if they violate the conditions of the leave and licence agreement. You should thoroughly read the agreement before signing it to ensure that you are aware of all of your rights and responsibilities.
What takes place on the property if there is a conflict?
The property owner and the individual wishing to utilise the property enter into a contract known as a "leave and licence agreement" in India. This contract can be extended for another 11 months in most cases. You are granted permission to use the property for your own purposes under the leave and licence agreement. The agreement may be cancelled if there is a dispute between the owner and the person utilising the property.
What is the maximum period for leave and license agreement must be clear to you now.
Read More: How to become ASP for leave and license agreement? Do you have to go to the government office for rent agreement registration? What is the minimum cost for making rent agreement in Mumbai?Your Feedback Matters! How was this Answer?
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What is the maximum period for leave and license agreement?
Ruhi
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2023-04-20T06:48:23+00:00 2023-04-26T11:35:56+00:00Comment
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