REGISTRATION OF LEAVE & LICENSE AGREEMENTS
EARN RENTAL INCOME WITHOUT WORRYING ABOUT YOUR PROPERTY.
IF NOT DONE PROPERLY, LEAVE & LICENSE ARRANGEMENTS CAN PROVE TO BE EXPENSIVE TO THE OWNER
A leave and license is an arrangement one where one party (the owner) gives a limited right to use his property to the other party (the person paying the rent). This arrangement is popular since it creates no lasting legal rights in favour of the renting party.
As a property owner, you would no doubt wish to generate income from the asset by letting it out on rent. However, you would also be concerned about implications under the tenancy laws, which, in certain cases, give legal rights in the property to the renting party. Leave and license is a way in which you can monetise your property without fear of losing it. However, for this, it is necessary that the leave and license agreement is drafted carefully and is registered with the government. If this is not done properly, legal rights in the property may be claimed by the renting party and the property may be locked up in litigation for a number of years.
Many owners mistakenly believe that signing a leave and license agreement is sufficient to give them legal protection. Some others get the agreement attested by a notary. Legally, this is not sufficient to protect yourself. It is the responsibility of the owner of the property to register the leave and license agreement with the government; the owner can be asked to pay a penalty or face imprisonment if this agreement is not registered. Further, the owner also has to submit information about the renting party to the police.
We at LawLeo help you in drafting a precise leave and license document, registering the document with the government and providing the police with the details of the renting party. In certain cases, you can register the agreement from the comfort of your home! Call us on 9821387275 or write to us on for details on how we can help you earn rentals without any risk to your property.