What is Leave and License Agreement?
A leave and license agreement is an instrument/agreement wherein the licensor allows the licensee to temporarily occupy and use one portion of immovable property for carrying on his business for residential purposes.
The licensor grants the leave and license to the licensee for a period of 1-60 months and for this, the licensee shall pay to the licensor a fixed amount of license fee/rent money. This agreement has to be mandatorily registered before the sub registrar of assurances at the place of jurisdiction where the property is located. The registered document can be used later on by licensee as a valid address proof.
