A lease deed is a legally enforceable agreement between a property owner (lessor) and a tenant (lessee) that specifies the terms and conditions governing the rental of the property.
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Auriga Accounting has a team of registration experts who can provide complete guidance to register your Lease Deed.
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for Lease Deed
Your Lease Deed is Done
A lease deed is a vital legal agreement that establishes the relationship between a property owner (lessor) and a tenant (lessee) concerning the rental of a property. It specifies the agreed-upon terms and conditions under which the lessee is permitted to use and occupy the property for a set period in return for rent. This document is crucial for clarifying the rights and obligations of both parties and offers legal security in case of any disagreements or disputes.
A lease deed is more than just a record of an agreement; it functions as an essential reference that outlines key details of the lease, such as the rent, lease period, maintenance duties, and termination terms. By explicitly specifying these aspects, a lease deed helps to minimize misunderstandings and disputes between landlords and tenants.
Title: The document should prominently bear the heading “Lease Deed” at the top.
Date of Agreement: The date on which the lease is executed must be clearly stated.
Parties Involved: The identities of the lessor (landlord) and lessee (tenant) should be specified, including their full names, addresses, and relevant identification details such as PAN or Aadhaar numbers.
Property Description: A comprehensive description of the leased property should be provided, covering its address, survey or plot numbers, and any specific identifiers like flat or unit numbers. If part of a larger building or complex, the property’s location within the structure should be detailed.
Term of Lease: The duration of the lease must be clearly indicated, including the start and end dates. If the lease is renewable, the renewal terms should be outlined.
Rent Details: The amount of rent payable, payment frequency (monthly, quarterly, yearly), due dates, and accepted payment methods should be specified. Any clauses regarding rent escalation or rent-free periods should also be included.
Security Deposit: The security deposit amount, conditions for its refund, and permissible deductions should be detailed.
Use of Property: The authorized uses (residential, commercial, industrial) and any restrictions—such as prohibitions on certain activities or subletting—should be clearly defined.
Maintenance Responsibilities: The obligations of both parties concerning maintenance and repairs during the lease term should be specified, including who bears the costs and the frequency of maintenance.
Termination Clause: Conditions under which either party can terminate the lease early, such as breach of terms or change in circumstances, should be clearly outlined.
Governing Law: The jurisdiction whose laws govern the lease agreement should be specified.
Signatures: Provision for signatures of both parties along with dates should be included, along with spaces for witnesses’ signatures if required by law.
Occupancy Details: Clearly specify the maximum number of occupants allowed and outline any restrictions on subletting or hosting guests.
Payment Terms: Define the rent amount, payment due dates, acceptable payment methods, and penalties for late payments to prevent misunderstandings.
Maintenance and Repairs: Assign responsibilities for routine maintenance and repairs, including duties related to common areas and landscaping, to avoid disputes over property upkeep.
Security Deposit Terms: Detail the conditions under which the security deposit can be withheld or refunded, including allowable deductions for damages or unpaid rent.
Use Restrictions: Include restrictions on certain activities, such as smoking, pet ownership, or unauthorized modifications to the property.
Renewal Options: Specify whether the lease is renewable, along with the terms for renewal, including any changes in rent or conditions.
Insurance Requirements: State if the tenant is required to maintain renter’s insurance to cover personal property or liability.
Severability Clause: Ensure that if any provision of the lease is deemed invalid or unenforceable, the remaining clauses remain effective and enforceable.
Right to Enter: Define the circumstances and notice requirements under which the landlord may access the property for inspections, repairs, or other purposes.
Dispute Resolution: Outline the preferred method for resolving disagreements, such as mediation or arbitration, to facilitate amicable settlement of disputes.
Identity Verification: Aadhaar Card, Driving License, Passport, or any other government-issued ID for both landlord and tenant.
Address Verification: Recent utility bills, Voter ID, bank statements, or official documents confirming addresses of both parties.
Photographs: Recent color passport-sized photos of authorized signatories from both sides.
Company Documentation (if applicable): Company PAN card and company seal or stamp (for commercial leases).
Ownership Proof: Original title deed or ownership documents of the leased property, along with any supporting documents confirming the lessor’s legal right to lease.
Property Documentation: Index II or tax receipt of the property and other relevant documents as required by local authorities.
Route Map: A detailed map showing the location of the leased property, especially if within a larger complex or building.
Additional Guidelines:
Draft the Lease Deed: Outline key terms like rent, duration, renewal, security deposit, maintenance, and termination, ensuring compliance with local stamp laws.
Obtain Stamp Paper: Buy non-judicial stamp paper as per State Stamp Act, with the value based on lease terms.
Sign the Document: Both owner and tenant must sign the lease deed in the presence of two witnesses.
Pay Stamp Duty and Registration Fees: Settle applicable charges online via state portals or at the Sub-Registrar’s office.
Schedule Appointment: Book an appointment online through the state registration website, if available.
Attend the Registration: Both parties and witnesses visit the Sub-Registrar’s Office with original documents and ID proofs.
Verification: The Registrar reviews the documents, ownership proof, and payment receipts.
Biometric & Photo Capture: Fingerprints and photographs of all parties and witnesses are recorded.
Final Registration: The lease deed is officially registered, assigned a registration number, and recorded in government records.
Collect or Access the Registered Deed: The registered document can be collected in person or downloaded online, depending on state facilities.
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