A lease deed is one of the most important agreements in the real estate deal. This lease agreement contains all the valid legal points, terms and conditions of the deal which has been made, moreover it is an assurance that the conditions decided while making the deal remains constant throughout the decided time period.
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A lease deed is one of the most important agreements in the real estate deal. This lease agreement contains all the valid legal points, terms and conditions of the deal which has been made, moreover it is an assurance that the conditions decided while making the deal remains constant throughout the decided time period. When we talk about the Indian Real Estate market, we can clearly make out that it is one of the largest real estate markets around the world. Moreover the rates of the land are quiet expensive which has resulted in the increase in number of the lease transactions and lease agreements. The drafting of the Lease deed is one crucial thing one which the deal is made
so it should be done in a perfect manner so that there is no confusion between the parties in future. Let us see the points of making a perfect Lease Deed.
1. Number of Parties and Number of Properties:
The lease deed agreement should contain all the proper names of the parties involved in the deal and also the number of lease properties involved in the deal.
2. Dates of the Renewal and closure of the Agreements:
All the dates of the starting of the agreement and the closure date of the agreement should be clearly mentioned in the lease agreement.
Moreover if it is a long term deal then the renewal date should be decided and the mentioned in the agreement.
3. Rent, Security and all the Expenses:
The rent of the leased property, security amount and all the external expenses of the property should also be mentioned clearly on the agreement.
For additional information regarding lease agreement drafting, please visit this website.