Let me inform you, what is the alternative to a rental agreement? An alternative to a traditional rental agreement in India is a Leave and License Agreement. This type of agreement allows the tenant (licensee) to occupy the property without transferring ownership rights to them. I have shared more details about this below for you.
What is Better than a Rent Agreement?
Without doubt, a leave and license agreement is the safest option. This document grants the licensee authorisation to occupy the licensor's property. Therefore, rather than on a tenancy basis, the occupancy is given on a leave and license basis. Such an agreement gives the landlord more control and facilitates eviction.
Here are some key points you must know.
The landlord (licensor) retains ownership of the property while granting the licensee the right to use it.
This agreement is often used for shorter durations and can be more flexible in terms of renewal and termination.
It is legally recognised and provides a framework for the relationship between the landlord and tenant.
Similar to rental agreements, stamp duty is applicable and must be paid based on the value of the property and the duration of the agreement.
I hope you found this helpful.
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How to evict a tenant without rental agreement in India
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Authors Of The Question
What is the Alternative to a Rental Agreement?
Aagha7
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2 months
2024-12-27T18:18:26+00:00 2024-12-28T18:18:41+00:00Comment
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