Lease Agreement for Commercial Property

This Packet Includes:

1. Description and Instructions, and

2. Lease Agreement for Commercial Property

Description And Instructions

Lease Agreement for Commercial Property

A lease for an immovable property (e.g. commercial building, etc.) is a transfer by the Lessor to a Lessee of a right to enjoy such property for a certain time period in exchange for a price paid or promised. It is important to remember that a business lease is not like a dwelling rental.

This Lease Agreement for Commercial Property is an up-to-date, legally accurate and easy-to-use form that's specifically tailored for commercial lease transactions. Because you can edit and use this form as often as you like, you get the ultimate flexibility to meet your unique business circumstances.

This Lease Agreement for Commercial Property is suitable for the occupation of most types of commercial premises such as offices, shops or industrial property.

In a lease agreement there is a transfer of interest and it establishes that the tenant will not be evicted by the owner except on the grounds of eviction mentioned under the Rent Act.

Essentials of the Lease:

1. A lease includes provisions regarding the duration of the lease, the time of commencement, the amount of rent or premium, if any, the time of payment and the covenants between the lessor and the lessee upon which the lease should be granted.

2. A lease may be from year to year, month to month, or in perpetuity.

3 A lease of immovable property from year to year, or for any term exceeding one year, or reserving a yearly rent, can be made only by a registered instrument. All other leases of immovable property may be made either by a registered instrument or by an oral agreement accompanied by delivery of possession.

4. Where a lease of immovable property is made by a registered instrument, such instrument, or where there are more instruments than one, each such instrument, must be executed by both the lessor and the lessee.

5. Stamp duty on the Sale deed differs from State to State which can be ascertained from the Sub-Registrar of the State, Region where the document has to be registered.

6. All the documents or instruments to be registered, have to be accompanied by a prescribed registration fee as per the State, Region where it has to be registered.

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