Regarding Lease agreement/deed and conveyance deed
malashree
(Querist) 17 July 2009
This query is : Resolved
Please clarify the exact meaning of Agreement to Lease deed and conveyance deed in detail
RASIK DAGLI
(Expert) 17 July 2009
An agreement of Lease is a deed for Leasing out some property. The party giving the Lease (i.e. Owner of the Property) is called Leasor and the party taking the Lease is called Leesee. Lease deed describes the property leased, the monthly rent and liability to pay taxes etc. It must contain term of the Lease. If he lease is for the term of one year or more it must be registered. Lease for the term of 11 months and 29 days or less is not necessary to get registered.
A Conveyance is a deed of conveying or selling immovable property. Normally There are two parties, i.e. Seller and Buyer. It must contain the description of Property sold, consideration received and possession given. If the value of the property is more than Rs.1oo/- it must be registered.
RASIK DAGLI
Advocate.
Harinarayan R. Tripathi
(Expert) 18 July 2009
In reply of your query I state that, there is two possibility of your question:-
1. Difference between “Agreement to Lease Deed” and "greement to Conveyance Deed” or
2. Difference between “Agreement to Lease Deed” and Agreement to “Conveyance Deed”
In short I state that:
(a) Agreement to Lease Deed/Conveyance Deed means that to enter in Lease Deed/Conveyance Deed, by executing such agreement, which contained terms and conditions which shall need to be completed or fulfilled prior to the execution of Lease Deed/Conveyance Deed.
(b) Lease Deed means a document by which a person transfers its property, for a certain period on receiving rent therupon, in favour of other person by keeping ownership of the property with his himself. By such instrument the Transferee is entitled to the Leasehold rights on the property and such Lease Deed is compulsory required to be registered as per Section 17 of the Registration Act, 1908.
Whereas, in case of Conveyance Deed the person or the owner of the property trnasfering the property to the Transferee absolutely on "as is where is basis" without keeping any right or interest in the property with him. By such instrument is entitled to the freehold rights on the property and such conveyance Deed is compulsory required to be registered as per Section 17 of the Registration Act, 1908.
I hope this will meet with your requisitions.
Manish Singh
(Expert) 24 July 2009
we generally use the term conveyance deed for the term sale deed.
the main question arises as to what is the difference between a lease and sale.
under lease, no ownership gets transferred instead only the rights and liabilities of the property get transferred to the opposite party i.e. the lessee. in lease, interset attached with the property also gets transferred and the lessee becomes fully entitled to enjoy the property in the manner and terms of the leas deed. after the term of the lease expires, the property gets back to the real owner. there may be perpetual lease which when granted means the lease term shall be forever but still if we breach any condition of the lease deed, the same can be revoked.
under sale, the purchaser gets an absolute title of the property and hence entitle to use the property in a way an manner which pleases him without any restriction from the seller. the title of the prperty remains with him eternally.
