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Lease and Rental Agreement – An Overview

A lease is where the owner of a property (lessor) agrees to rent their owned property to another person or tenant (lessee) for a particular duration of time. The lessee has to make a one-time payment or a series of periodic payments for the use of the property. The agreement that makes such an arrangement possible is known as a lease agreement. This agreement covers the terms of using the property and the time period for which such property is rented out.

A rental agreement is also similar where an owner of a property (landlord) gives temporary possession to another person (tenant). Unlike the lease agreement, a rental agreement is for shorter durations and the payment for possession is done on a monthly basis. The terms of the agreement, usage and payment details are decided by the landlord and the tenant.

It is very important to note that in either agreement the rights of the lessor-lessee and the landlord-tenant are not affected. The agreement should be such that both parties are satisfied with the terms and conditions. Thus it is advised to take help from professionals who will handle that for you.

Benefits of Rent and Lease Agreement

Lease Agreements

  • A lease agreement means stability for the lessor as it provides income for a period of time.
  • The lessee can use the leased property for business purposes with lesser investments in property.
  • Through leasing, the lessor has the means to finance their properties without depending on banks and financial institutions for borrowing. Leasing is a considerable alternative if one does not want to mortgage their property.
  • Lease agreements are time-saving compared to purchasing an actual property where there are so many requirements. Properties are available immediately through a lease.
  • Lease agreements provide legal protection to the lessor and the lessee in case any party breaches the terms of the agreement.

Rent Agreements

  • It becomes a means of monthly income for the landlord who is renting the property.
  • The tenant has to avoid expenses such as maintenance and access to amenities.
  • There is a legal relationship between the landlord and the tenant where both are obligated to carry out certain responsibilities.
  • Similar to lease agreements, rent agreements provide legal protection to both the landlord and the tenants in case any party breaches the terms of the agreement.

Other than that, lease and rental agreements also act as proof of address and identity.

What Should a Rental and Lease Agreement Include?

  • Names: Both the agreements should include the name of the tenants, landlord, lessors, lessee and authorised agents who were involved in the agreement.
  • Property Description: This includes a brief overview of the property such as the size of the property, the number of rooms, etc. it is very important to include this in the agreement.
  • Rent Amount: This is the amount decided by the lessor/landlord which the tenant/lessee has to pay in order to make use of the property. It can be upfront or periodic in the case of a lease agreement. In rent agreements, the amount is paid monthly. This also includes information about late charges, grace periods, etc.
  • Mode of Payment: This clarifies the adopted mode of paying the rent/lease amount.
  • Termination: This includes the procedure and the reasons where the agreement can be terminated before the actual expiry of the agreement.
  • Security Deposits: A security deposit is where the tenant pays an amount, which is normally equal to the rent, to the landlord during the initial stages of the rent agreement. This amount is then returned after expiry/termination. The agreement must also include a clause related to the security deposit.
  • Rules & Regulations: These are conditions that the tenant/lessee should abide by. These include noise rules, pet rules, etc. This also includes the penalties if the rules are violated.
  • Facilities and Amenities: Parking facilities and amenities such as laundry, water supply, swimming, etc. are listed here.
  • Repairs and Maintenance: This includes the procedure of requesting repair work and maintenance of the property.
  • The agreement may include other requests and terms suggested by the landlord/lessor and the tenant/lessee.

Documents Required

By Landlord/Lessor

  • Original copy of proof of ownership of the landlord’s property.
  • Copy of 2 recently taken passport size photos.
  • An Aadhar card or its receipt while applying for it is mandatory.
  • Any government-issued ID proof- driving licence, voter’s ID, passport etc.
  • The rental agreement that is printed on the stamp paper of the recommended value

By Tenant/Lessee

  • 2 passport size photos.
  • Aadhar card or the receipt received while applying for it. If the person is not Indian, then he/she has to submit the original passport.
  • ID representing another person for the registration, then a Power of Attorney should be presented.

Process to Register Rental and Lease Agreement

  • Step 1: The agreement has to be drafted. This should include all the required details enumerated above
  • Step 2: The agreement has to be then printed on a stamp paper of specific value
  • Step 3: The parties have to sign the agreement along with their thumbprint, photographs and identification details (PAN)
  • Step 4: Two witnesses should be present at the time of registration of the agreement. The signature of the witness is also mandatory
  • Step 5: Within 4 months of signing the agreement, the agreement has to be submitted to the office of the sub-registrar
  • Step 6: Either party has to pay the stamp duty and registration fees
  • Step 7: The Sub-registrar will confirm the agreement after verification.

What is a Sale Deed?

A sale deed is a legal document that showcases the transfer of title, rights, and ownership of a property from a seller to a buyer.

It is the most important document that legally reports the proof for the buyer and seller. It is an essential document for both the buyer or the transferee and the seller or the transferor. The purchase or sale of the property is not legally complete until a sale deed is signed between the buyer and the seller. Normally, a sale deed is signed only after both the parties are satisfied and comply with the terms and conditions.

Advantages of a Sale Deed Registration


Protects Parties


The deed protect the rights of both the buyer and the seller. A specific, well-drafted deed will avoid ambiguity and minimise legal risks.


Defines The Area


For the buyer, a key advantage is having on paper a well-defined description of the property that is being purchased, including the square footage and the location.

There are few additional benefits of a sale deed which is as follows:

  • As a sale deed registration form concludes the sale into a legal document, it is enforceable by the law.
  • A sale deed reduces troubles as all money due can be specified in the document. This makes the process of sale more stable and comfortable.
  • Additionally, it assures that your property is not taken for granted given the existence of a registered and stamped legal document.

What is the Format of Sale Deed Form?

In general, a sale deed format should include the below-mentioned details-

  • Descriptions of the parties involved- the full name, complete address, contact details, age & occupation for each of the buyers and sellers.
  • Description of the property being transferred- id number, correct address, dimensions of the property, construction details of the building, if there is any.
  • Indemnity & encumbrance clause- This includes a declaration from the seller that the property being transferred is free from every encumbrance, litigation, and charge. Also, the seller indemnifies the buyer from any pending charges in this regard.
  • The seller should settle a pending loan taken with the concerned property as a mortgage, before proceeding with the sale. The buyer has every right to examine the related documents before registration.
  • The sale consideration- It’s the price at which the transfer deal is closed. This section should also mention the advance amount paid if there is any. The parties should explicitly agree on the dates of payment, the mode of payment, etc. The price and the details of the transactions made should be mentioned in both figures and numbers. The sale deed format should also mention the receipts of the sale transaction.
  • Delivery & possession of the property- the deed should specifically mention the date of handover to and possession by the buyer.

Requirements of a Sale Deed Registration

  • The sale deed format must specify the name and address of the buyers and the sellers.
  • There must be a complete address of the property and a description of the property should be mentioned.
  • The sale price consideration accepted between the buyer and the seller must be specified in the sale deed. That is, the amount which the buyer has to pay on the execution of sale deed must be mentioned in the property sale deed.
  • Additionally, if the advance amount is paid already, it must be mentioned in the sale deed.
  • The mode of payment must be mentioned.
  • The property sale deed must stipulate the time when the title of the property will get transferred to the buyer. All the documents that are related to the property must also be handed over to the buyer.
  • Ensure that the title of the property is available from any deviation.
  • A sale deed of land is not legally binding unless it is enrolled in the sub-registrar office. Both the buyer and the seller including the witness must be there at the registrar office on the date for the enrollment of the deed.
  • The stamp duty and registration charges have to be paid for making the registration done.

What is the Process for Getting a Sale Deed Registration?

  • The lawyers should be in contact to understand the requirement in detail.
  • The basic information would be required from your end to start the process.
  • Once all the information is provided and the payment is received, the lawyers will start working on your document.
  • Additionally, you will get the first draft of your legal document within a few working days.
  • You can evaluate the document and in case of any modifications, you can intimate for the corrections.

Documents Required for Drafting Sale Deed


Registration of an Original Sale Deed of Land

Both the seller and the purchaser have to keep all the important documents in the sub-registrar office to confirm the property sale deed and close the deal. The registration of a sale deed form includes:

  • The value of the property has to be determined based on the circle rate in that region.
  • The circle rates of the area and the actual price paid for the property are related. While assessing the stamp duty the higher of the two values, the circle rate and the actual price paid have to be taken into consideration.
  • Additionally, a non-judicial stamp paper of the value so calculated has to be purchased consequently.
  • Consequently, the deed has to be provided and typed in stamp papers.
  • The final step needed in making the sale deed form registered is to compare the sub-registrar office to get the sale deed form registered. The parties must be followed by two witnesses.

What Is the Cancellation of a Sale Deed?

The cancellation of a deed can be done bilaterally by the seller and the purchaser if there is an agreement to this effect. The cancellation process is done only if one party demands for cancellation and the other refuses to accept it.

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