Are there risks in renewing a leave and license agreement?
Is there any RISK in renewing the leave and license agreement after the initial term of 2 years for another 2 years with the same tenant in Mumbai. Specifically does this result in any additional rights to the Licensee (Tenant) which can be detrimental to Licensor (Landlord)? What are the precautions to be taken and can it be a renewal of the existing L&L agreement or a completely new agreement needs to be entered, stamped and registered.
Sir, renewing a Leave and License agreement for another term with the same tenant can create risks like implied tenancy rights under the Rent Control Act, making eviction difficult. To avoid this, ensure clear renewal terms, avoid automatic renewal clauses, and include exit options. It is advisable to draft a new agreement instead of simply renewing the existing one, with proper stamping and registration. Consult a lawyer to protect your rights and avoid potential issues. For further legal assistance contact us on our helpline number.
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