However, for Maharashtra, the law has been made stricter and, in accordance with the provisions of section 55 of the Maharashtra Rent Control Act, 1999, any lease or leave and licence agreement must be in writing and it must also be registered compulsorily, regardless of the duration of the tenancy. If you are not aware of the creation of such an agreement, you can try our prefabricated holiday contract and license template, verified by the lawyer, which can be adapted to your needs! However, if you are a tenant who thinks this is not your cup of tea, you can check out our prefabricated and ready-to-use lease. It is a comprehensive document that covers both tenants and owners. The housing corporation in which the premises are located may require the licensor to carry out certain formalities before the licensee can occupy the premises. Housing corporations generally require the submission of Form 11 (licensee`s application for nominal membership) and Form 29 (application for leave authorization and licensing by the licensor). These forms can be downloaded from this page. Some companies charge the tenant a fee to move in. A popular choice among owners, the holiday and license agreement has the following features. A property owner wants to generate income from the asset by renting it out.
At the same time, the landlord may also be concerned about the impact of rent laws. In some cases, these laws give the licensee legal rights in the premises. Leave and License is a way for the owner to use the premises wisely without fear of losing them. However, to do this, it is necessary that the leave and license contract be carefully drafted and registered with the government. If this is not done correctly, the licensee may assert legal rights to the property and the property may be blocked for several years in disputes. Once you have prepared the contents of the deed, print it on stamp paper of the desired value. The Licensor and licensee must then affix their signatures in the places provided for this purpose, as well as the signatures of two (2) witnesses. Each state in India has its own unique scale for levying stamp taxes, and we have made the computer available to our users so that they can calculate the holiday stamp duty and license agreement for Maharashtra State. The applicant can pay taxes and stamp duties online by generating a challan receipt online.
The calculation of stamp duty is usually based on certain information to be mentioned when registering a property: a holiday and license agreement is equivalent to a rental agreement. Simply put, a leave and a licence are an agreement where by which one party (the owner, known as the “licensor”) grants the other party (the “licensee”) a limited right to use its premises for rent. This regime is popular because it does not create permanent legal rights in favor of the licensee. Compared to a lease, a vacation and license agreement has limited authority with respect to the property. Vacation and licensing agreements are different from rental agreements, as rental agreements create interest in real estate, while the former do not. In addition, leases are transferable, which is not the case for a leave and license agreement. What are the essential elements of a holiday and license agreement? 3.1 The Maharashtra Rent Control Act 1999 now covers all leave and licensing schemes within its scope. . .