{"id":59159,"date":"2022-07-23T11:42:13","date_gmt":"2022-07-23T06:12:13","guid":{"rendered":"https:\/\/navimumbaihouses.com\/blog\/?p=59159"},"modified":"2022-07-23T11:42:13","modified_gmt":"2022-07-23T06:12:13","slug":"lease-vs-license-agreements-differences","status":"publish","type":"post","link":"https:\/\/navimumbaihouses.com\/blog\/news\/lease-vs-license-agreements-differences\/","title":{"rendered":"Lease Vs\u00a0License Agreements\u00a0Differences"},"content":{"rendered":"

The government of India enacted the Draft Model Tenancy Act,\u00a0in 2019 to encourage the rental housing market in that country. The basic form of the model law, which eventually will be adopted by states, aims to protect both landowners’ and renters’ interests. However, it is important that both parties are aware of some specific words that they can encounter while signing a rental agreement. We should talk about the distinction between a lease and a license in this context.<\/p>\n

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What Does A Lease Mean When Renting A House?<\/span><\/h2>\n

Leasing is the term used in law to describe an arrangement whereby a property owner offers a renter specified rights on his real property for a set length of time in exchange for the payment of rent.<\/p>\n

Section 105 of the Transfer of Property Act, 1882 gives the phrase a definition. Section 105, “a lease of mobile property is a transfer, expressly or implicitly, of the right to enjoy such property for a certain period of time, or a lease of movable property is a lease of movable property is a lease of movable property is in perpetuity, in return of a price paid or promised, or of money, a share of crops, service, or any other thing of value, to be delivered regularly or on defined events to the assignee by the recipient, who approves the transfer on such terms.”<\/p>\n

What Does A Property Rental License Involve?<\/span><\/h2>\n

In exchange for the payment of rent, a landlord will provide temporary use of his property to a third party through a written agreement known as a license. A license, unlike a lease, does not grant the opposing party any kind of exclusive possession rights over the property.<\/p>\n

The Indian Easements Act of 1882’s Section 52 defines the phrase. Section 54 specifies that “when one person provides to another, or to a certain number of many other individuals, a right to do, or continue to do, in or to a specific number of many other people, with respect to any property, upon the immovable property of the grantee, something which, in the lack of these right, would be illegal, and the like privilege doesn’t really equate to an asset or an interest in the property, the correct is called a license.”<\/p>\n