tiktok³ÉÈË°æ

The 5 Year Lease Agreement is a crucial legal instrument used in India for medium to long-term property leasing arrangements. It serves as the primary document governing the landlord-tenant relationship, incorporating provisions mandated by the Transfer of Property Act, 1882, the Registration Act, 1908, and relevant state-specific legislation. This agreement is essential when parties seek to establish a stable, longer-term leasing arrangement with clear terms regarding property use, maintenance, rent escalation, and tenure security. It requires mandatory registration with local authorities and appropriate stamp duty payment to be legally enforceable. The document is particularly valuable for commercial tenancies, corporate leases, and high-value residential properties where parties need comprehensive documentation of their rights, obligations, and remedies.

1. Parties: Identifies and provides full details of the lessor (landlord) and lessee (tenant), including names, addresses, and legal status

2. Background: Outlines the context of the lease, property ownership details, and intention of the parties to enter into the lease arrangement

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Demised Premises: Detailed description of the leased property including its boundaries and measurements

5. Term and Commencement: Specifies the 5-year duration and the precise commencement date of the lease

6. Rent and Payment Terms: Details the rent amount, payment schedule, mode of payment, and any periodic increases

7. Security Deposit: Specifies the security deposit amount, payment terms, and conditions for refund

8. Utilities and Maintenance: Outlines responsibilities for utility payments and maintenance obligations of both parties

9. Use of Premises: Specifies permitted uses of the property and any restrictions

10. Repairs and Alterations: Details responsibilities for repairs and rules regarding modifications to the premises

11. Insurance: Specifies insurance requirements for both parties

12. Assignment and Subletting: Rules regarding transfer of lease rights or subletting the premises

13. Termination: Grounds and procedure for early termination of the lease

14. Return of Premises: Conditions for returning the property at lease end

15. Governing Law: Confirms Indian law as governing law and jurisdiction

16. Dispute Resolution: Procedure for resolving disputes between parties

17. Notices: Method and addresses for formal communications between parties

18. Force Majeure: Provisions for unforeseen circumstances affecting lease obligations

19. Entire Agreement: Confirms the lease document as the complete agreement between parties