What is a Lease Deed?
A lease deed is designed for renting or leasing residential property. The rental agreement or lease deed is a legal document which lays out the prescribed terms and conditions under which the rented property is leased out that is to be followed between the landlord and the tenant.
How to use a Lease Deed?
The lease agreement is used in the cases of any dispute or any other issues by the lessor or the lessee. The rental agreement must be printed on a Non-Judicial Stamp Paper with a value of Rs.100/- or more. The rental agreement is usually signed on payment of a deposit for the rental property between the lessor and the lessee. Two copies of the document are usually executed, with each party retaining one of the original copies.
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