WHAT DOES THE LEAVE AND LICENCE AGREEMENT MEAN?
INTRODUCTIO N
Knowing every legal document that will be signed during the renting or leasing procedure of a property is crucial. The terms and conditions of the agreement between the owner of the property and the party desiring to use or occupy it are outlined in these agreements. Even though some people may be familiar with conventional leases or rental agreements, there is another legal form that is used to grant temporary occupancy rights for a property.
THE LEAVE AND LICENCE AGREEMENT
IS WHAT? - DETAIL GUIDE
An official contract known as a leave and license agreement outlines the terms and conditions of a licensee's temporary possession of the property in exchange for paying the licensor a fee or rent. A party (licensee) is given permission by the owner of the property (licensor) to use or occupy the property for a predetermined period of time, typically for a specified duration.
WHO HOLDS THE LICENCE?
Let's assume that you were using a property under a leave and licence agreement. Then, you and the proprietor of that property will be referred to as the licensor and licensee. The individual who has been given permission is referred to as a licensee, and the owner of that property is referred to as a licensor, to put it simply.
WHAT ARE DOCUMENTS REQUIRED FOR LEAVE & LICENSE AGREEMENT?
The following are the only documents required for the L&L agreement:
1 The ID proofs of both parties.
Address proofs of both parties.
2
DO LEAVE AND LICENCE A MAXIMUM DURATION OF 11 MONTHS?
Absolutely not, as per the Registration Act of 1908, the L&L Agreement is often only prepared for 11 months in order to avoid the expensive Stamp Duty and registration fees. The leave and licence agreement's length of 11 months is also due to this.
IS REGISTRATION REQUIRED FOR LICENCE AND LEAVE AGREEMENTS?
You are safer if you register all of your legal documents. Finally, it becomes necessary to register your license and leave agreement in accordance with Sec tion 17 of th e R eg istration A c t of 190 8. There won't be any obstacles in your path anytime soon.
DIFFERENCE BETWEEN A AGREEMENT & A LEAVE A AGREEMENT
It should be easy to confuse a rental agreement with an L&L agreement because both are necessary when a property needs to be put on lease or rented on lease. However, you must be informed in full, therefore let's compare a license and leave agreement Vs rental arrangement:
DO LEAVE AND LICENCE AGREEMENTS REQUIRE POLICE VERIFICATION?
No legal document has ever been subject to voluntary police verification. Police verification is necessary for an L & L arrangement.
The
for verification: 01 Aadhar Card, Ration Card, Driver's Licence, or Passport as Identification Proof 02 two photos the size of a passport
following documents are required
THAN K YOU
