How can I protect my property and regain possession in agreement?
I am going to enter into an agreement with a person to run a guest house in my home for a long-term lease, like a 10-year agreement. Can someone explain how I can protect my property from being sold or transferred to a third party by the tenant in a leave and license agreement? What clauses should I include in the agreement if I want my property back from the tenant before the agreement ends? How can I take back my property without any difficulty in a leave and license agreement?
Since a license agreement does not grant the license holder the right to transfer or sell the title, a lease agreement specifies that the licensor should exploit the property in accordance with the terms of the agreement. However, in order to safeguard the property, you should include non-transferable terms and termination clauses, or if you do, you must obtain the written consent of the licensor.
To protect the property and regain possession in a leave and license agreement. You are required to include clear clauses of non-transferability and explicitly state that the tenant cannot sublet, assign, or transfer the property to a third party without written consent. You should also include a termination clause and include the conditions under which the agreement can be terminated early such as non-payment of rent, and misuse of the property. You should also include provisions of the notice period clause and vacation of premises clause. Make sure that the agreement is clear and it is enforceable under local laws.
Sir, to protect your property in a leave and license agreement, include clauses for non-transferability to prevent sale or transfer, right to terminate if the tenant breaches terms, re-entry for possession if the tenant defaults, inspection rights with notice, and an exit clause which allows early termination. It is advised to consult an expert lawyer to ensure legal compliance and proper protection. For further legal assistance contact us on our helpline number.
Related Questions
24x7 Help
If we fall short of your expectation in any way, let us know
Payment Trust
All refunds come with no questions asked guarantee
