What is a Lease Deed?

A Lease Deed is a rent agreement that is made between a tenant and the landlord. It keeps all the term of the rent/lease, for example, the total monthly rental, the time of vacating the house, maintenance payment etc. A lease deed is basically designed for giving a commercial property on lease or rent.

As Lease Deed is a legal document it contains some terms and conditions in which the property is leased. It is mandatory to add information about the lessor, lessee, tenure of the lease, lease payments payable and other terms to be followed by the lessee and lessor during the lease term in prescribed the Lease Deed. This article talks about the Lease Deed and its key contents.

Key Contents of a Lease Deed in India

There are certain important provisions that should be included in every lease agreement in India are as follows-

1. Description of Property: The deed should contain the description of the property such as area, location, structure, address, and other information.
2. Duration: The lease agreement should clearly state the time span for which the validity of the lease will be in force. This provision might also include information about the renewal of the lease deed in case the parties want to continue with the contract.
3. Rent, Maintenance, and Security: The lease deed must clarify the rent amount, payment mode, due dates, security deposits, interest for payment delay etc. It should include information regarding the maintenance charges, society charges and utility bills etc.
4. Termination of Lease: The deed must indicate or include the reasons behind the termination of the agreement. It might include breach of the deed, illegal acts in the property, failure to pay the rent, nuisance created by the lessee etc.
5. Subletting: The lease deed must include information about whether the tenant is able to sublet the property or not.
6. Dispute Resolution: It must be mentioned in the deed that the manner in which the legal dispute arising between the parties out of breach of the agreement and how it will be dealt with. It may consist of an ADR process such as Arbitration.
7. Applicable Laws: In this provision, it will be stated that the laws are applicable to both the parties in case of dispute and which court will be having the jurisdiction to deal with such cases.

 Documents required for registration of a Lease Deed 

• The original proof of ownership of the property. 
• Address proof copy of the landlord, tenant and the witnesses. Aadhaar, bank passbook, passport etc. can be submitted as your address proof. 
• The rental agreement printed on the stamp paper of the correct value.
• Property documents of the property to be leased. A tax receipt can be submitted as a property document. 
• Two photographs of each of the parties and one photograph of each of the witnesses. 

How to register a Lease Deed?

The process begins with:

1. Legal drafting of a Lease Deed
2. Submitting a request for the registration of the deed with the relevant document copies
3. Pay for Stamp Duty Fee for further processing
4. Visit the Registration office and pay the Registration Charges

How can we help you?

In this pandemic visiting the office is not safe, hence online application of drafting a Lease Deed is recommended. You can apply with Online Legal India™. Being the leading Online Legal Service Provider we are proud to serve more than a million satisfied customers.

You can also go through our other legal services as sending a Legal Notice, drafting a Divorce Notice we also deal with Company Registration, ITR Filing, Consumer Compliant and many more.