Agreements
Toral Sampat
(Querist) 16 May 2013
This query is : Resolved
Respected Experts,
Can you please help me to understand the difference between Lease Agreement and Tenancy Agreement.
According to me the difference is the Time Period.
Tenancy agreement is generally for a period not more than 1 year whereas Lease agreement is more than 1 year.
Kindly correct me if I am wrong.
Thanks in anticipation.
Awaiting your response.
V R SHROFF
(Expert) 16 May 2013
Leave & License agreement is generally for a period not more than 11 months +LL Agr is safer for Land Lord, and can be for a period of Three years.whereas Lease agreement is more than 1 year.Lease usually for 40 to 99 years, for plot of land that can be built, developed, used for annual rent basis. Tenancy Agreement can be for ever and RENT ACT applies, that give tenants a protection. ALL THESE AGR NEED REGN.
Adv Vikramsinh Mohite
(Expert) 16 May 2013
Is it still safe if the Leave and License Agreement is made for 3 years?. Kindly tell what is the advantage of LL Agreement over Lease to the Landlord.
V R SHROFF
(Expert) 16 May 2013
The recent amendments increased the period of LL AGR from 11 months to 60 months with compulsory registration in state of Mah, and is safest among other three options.
Rental means Pagdi and gone case .
Lease with Pvt Co. is desirable, as they do not hesitate vacating, and pay regularly.
Otherwise LL Agr is preferred in all other letting out options.
After all , nothing is 100% safe, as once possession is given, Due Process of Law to vacate/ evict takes years in civil court.
Toral Sampat
(Querist) 16 May 2013
Respected Experts,
Thank you for your guidance which really helped me.
It gives a sense of security that we have such experts to help freshers like me.
