A property lease contract contains the details of a property deal signed between two parties, the lessor and the lessee, for a definite period of time when a property is to be taken on lease for a specific purpose. The lease contract should contain complete information of the property and all terms and conditions associated with the lease agreement. This type of a contract needs to be approved by certain departments of the Government at times, and if such a process is included in leasing the property then the documents should be attached alongwith.
Sample Property Lease Contract:
This property lease contract has been signed after thorough consideration of all the terms and conditions included herein. The clauses have been properly read, understood, and approved of by both parties to be followed sincerely throughout the term of lease validity. All information given here are true and complete, as has been provided and confirmed by the involved parties. Any discrepancy in details, identification and residential proofs, affidavit statements, income certificates, etc. and other legal documents will fall under section VII (b) of the contract that deals with “breach of contract”, which also includes improper execution of the lease terms.
The property lease contract [number: 6725] has been signed on the 16th day of October 2011, between John Greg [address: 98, Long Lane Road, London], herein referred to as the lessee, and Fredrick Richard [address: 67/ B, Lindsay Street, London], herein referred to as the lessor, and will remain valid till the 16th day of October 2017. The details of the property are as follows:
- Plot No.: 18 – B/ II
- Area: 17000 sq feet
- Cost: $67550000
- Purpose: The land is being taken as property lease for development of a real estate there. Any other use of the land is strictly prohibited, not respecting which the lessee may be penalized.
_______________________ [witness 1]
_______________________ [witness 2]
Date: 16.10.2011 Place: London