A property commercial lease basically refers to the acquirement of a particular commercial property on lease for reasons, either personal or professional. Any property involves a range of legal proceedings which should be made clear in the terms and conditions of the lease, so as to ensure a hassle-free process for the lessee.
Sample Property Commercial Lease:
The deal has been sealed assuming that all parties, subject to the contract, have thoroughly read and understood all the clauses of the lease and will solemnly agree to all its terms and conditions in the future. The particulars of the property commercial lease, as agreed to, have been clearly stated below:
Leaser name and address: Royal Promoters Pvt. Ltd.
54, Shakespeare Lane, London
Lessee Name and address: Supreme Constructions Pvt. Ltd.
77, Maddox Street, London
Commencement of lease on: 4th September, 2011
Lease will remain valid till: 15th September, 2021
Purpose of lease: This property has been taken on lease for the construction of a high school to provide education to boys and girls who come from poor families. The lease term will place the rights of the property on the lessee and also the duties associated with it, failing to do which properly, he will be penalized legally.
- Name: Christ High School, Royal Properties
- Address: 65, Shakespeare Lane, London
- Area: 2000 sq feet
- Costs involved: $ 67000
Persons having witnessed the deed:
- Advocate Mike Anthony: ____________________________
- Jennifer Marian: ______________________________
I hereby declare to have sincerely read and taken notice of all terms and conditions and have approved legally to the same.
[Signature of the leaser]
[Signature of the lessee]
Date: 4th September, 2011 Place: London