Document background
The Lease License agreement is a crucial legal instrument in Indian property law that provides a more flexible alternative to traditional lease arrangements. This document type is particularly useful when property owners wish to grant occupation rights while retaining significant control over the property. The agreement carefully balances the interests of both parties while ensuring it doesn't create any interest in the property that might be construed as a lease under the Transfer of Property Act, 1882. It's commonly used for commercial spaces, temporary arrangements, or situations requiring quick termination rights. The document includes essential elements such as duration, permitted use, fee structure, and maintenance responsibilities, while incorporating specific requirements under Indian law regarding registration and stamp duty. The Lease License format is particularly popular in commercial real estate, co-working spaces, and temporary business arrangements where traditional lease agreements might be too rigid or create unwanted tenancy rights.
