look news india
In metro cities like Delhi-Mumbai, you often hear news of disputes between landlords and tenants. Nowadays, many people buy property and rent it out and make it a source of regular income. If the landlord lives in another city, the possibility of dispute over the property increases even more. The second thing is that most landlords feel that by getting a rent agreement, their ownership rights on the property are secured and the tenant will not be able to raise any dispute. But, we want to tell you that to avoid any such dispute, get some other document made instead of the rent agreement, which will make your ownership rights even more secure.
We are talking about 'lease and license'. This document is capable of completely protecting the interests of the landlord. Many people in cities have also started getting such documents made. There are such provisions in this document that the tenant does not get a chance to assert any right on the property. It is not that getting it made is a difficult task. This paper is also made easily like a rent agreement or lease deed. Property expert Pradeep Mishra has explained the entire process of getting it made.
What is different from rent agreement?
Pradeep Mishra says that this paper is also like a rent agreement, only some clauses are changed in it. Rent agreement is mostly made for residential areas or properties. Its duration is only 11 months. Talking about lease agreement, it can also be made for more than 12 months. This paper is used for both residential and commercial properties and its duration can be from 10 days to 10 years. You can get this document prepared through a notary only on stamp paper. However, if you want to get a lease agreement made for more than 10 or 12 years, then it will also have to be registered in the court.
The interests of the landlord are protected
Whether you make a lease agreement or a lease and license, both these documents are meant to protect the interests of the landlord. It states that the property is being given to a specific tenant for residential or commercial use, for a period of 10 days to 10 years. In the lease and license, the landlord is recorded as the 'licensor' and the tenant as the 'licensee'.
Why lease and license are better?
Leases and licenses can be made for periods ranging from 10 days to 10 years.
It is written in it that the tenant will not assert any rights over the property in any form nor will he demand any rights.
If any party to the lease dies, his heirs can continue it. This does not happen in a rental agreement.
Even if the tenant takes possession of the property, he will not have any legal rights.
