Lease Agreement/ Rent Agreement/ Leave and License Agreement
A Lease Agreement, Rent Agreement, and Leave & License Agreement are legal documents used to grant temporary rights to use a property. Though they are similar, they have key differences based on legal implications and jurisdiction.
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1. Lease Agreement
A lease agreement is a long-term rental contract between the landlord (lessor) and tenant (lessee), usually lasting more than 12 months or for a fixed term (e.g., 1 year, 3 years, etc.).
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Rights & Obligations: Provides tenant strong rights under tenancy laws.
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Registration: Must be registered to avoid Legal hassle
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Legal Protection: Tenants have legal protection from eviction unless they violate the lease terms.
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Applicability: Common in commercial, Industrial and residential property in Noida.
2. Rent Agreement
A rent agreement is a short-term contract, usually up to 11 months, between the owner and the tenant.
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Flexibility: Easier to terminate or renew after the period ends.
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Registration: Not mandatory for agreements of less than 11 months. You can notarized Rent agreement by paying full stamp duty to the Government.
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Legal Standing: Offers fewer rights to the tenant compared to a lease.
3. Leave and License Agreement
A leave and license agreement is used mainly in India and grants the licensee (tenant) permission to occupy a property for a fixed term.
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Ownership: The licensor (owner) retains full control of the property.
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No Tenancy Rights: The licensee does not get tenant rights under tenancy laws.
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Registration: Must be registered, regardless of the duration.
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Applicability: Mostly used for residential, Industrial and commercial properties where the owner wants more control over eviction.
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Documents Required for Lease Agreement Registration in Noida:
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1. Aadhaar of both Landlord/ Lessor/ Licensor and Tenant/ Lessee/ Licensee
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2. Company Stamp and Board Resolution if any party is a Pvt Ltd or LLP Firm or Partnership Firm.
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3. Two Witnesses - Aadhaar or Voter id or Passport
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