The terms “leasing” and “license” are defined in Section 105 of the Transfer of Property Act and Section 52 of the Indian Easements Act. Section 105 of the Transfer of Ownership Act: “Lease Defined. The rental of a property is a transfer of a right to the use of such assets which, for a specified period of time, must be provided, expressly or implicitly, taking into account a price paid or promised or a part of the crops, services or other valuables to the person who has been transferred, on a regular basis or on certain occasions by the assignor. who accepts the transfer on such terms.Â Section 52 of the Easements Act, 1882: “License, Defined. If a person grants another or a number of other persons the right to do or continue to do on or on the land of the person who granted what would be illegal in the absence of such a right, and that right does not constitute relief or interest in the property, the right becomes a licence.Â “Lease” is a word that everyone knows, and listens to it day after day, as real estate transactions work. The rental can be defined as the right to enjoy a property for a fixed term, taking into account a price paid by the person who owns the property. In the black law dictionary, “rental” can be defined as a transfer of rent to a person for life, for a period of one year or at his convenience, taking into account rent or other compensation. Oxford Dictionary of Law defines it as “a contract under which a property owner grants another person sole possession of the property for an agreed period of time, in exchange for rent and sometimes a capital amount known as a premium. Section 105 of Transfer of Property Act, 1882 defines the lease and one would easily be able to infer some of the important features of a lease, such as z.B.
The transfer of an interest, the parties to the lease, the purpose of the lease, etc. But there is another provision or other legal principle that is sometimes confused with the concept of a lease, that is, the licence. Black`s Law Dictionary defines “licensing” in the context of property rights as an authority to make a particular act or a number of shares on the land of another without owning any possession. Oxford Dictionary of Law defines it as the authorization to enter or occupy a person`s country for an agreed purpose. The two provisions are similar, what differentiates them is a very important issue that needs to be resolved and it is abstract to do so. Sometimes there are situations that make a difference between them. To understand the difference between these two provisions and to know the situation that may put them in conflict, it becomes very important to understand the fundamental characteristics of leasing and licensing. As a general rule, a lease agreement provides for: (a) a loss or transfer of a property right; b) a permanent term or term; (c) in exchange for a price paid or promised or, for money, a share of culture or services or other valuables to be provided to the ceding, on a regular basis or on certain occasions. The essential feature of a lease is: 1) the transfer of an interest; 2. Parties to a lease; 3. the purpose of the lease; 4. types of leasing; 5.
the duration of the lease; and six. In exchange for the rental. Transfer of interest A real estate transaction is leased and creates a right of access to this property for a fixed period of time and for the examination of the conditions set out in it.