This agreement is entered into by the lessee and the lessor (the property owner). It includes all the terms and details related to the property to be leased. It carves out the terms of the lease between both the involved parties. It includes the time period for which a particular property is given on lease, payment terms and restrictions on the usage of that property. Thus, it outlines the basic terms and ultimately makes the lessor- lessee relationship legally binding.
A lease agreement can be enforced legally by printing on a non judicial stamp paper and signing by the involved parties preferably in the presence of two attesting witnesses. It should be registered at the sub registrar office if the period exceeds 11 months. Use this agreement if: 1. You as a property owner want to lease out your property. 2. You as a lessee (tenant) want to guarantee yourself the use of a leased property
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