Are Lease And License The Same Thing Let’s Decode

Lease and license agreements are often used interchangeably, but they differ by a thin margin, which if ignored can land you in a legal soup. A lease, defined by Section 105 of the Transfer of Property Act, grants the right to enjoy an immovable property for a specified period in exchange for rent or other consideration. This arrangement involves a transfer of interest in the property, establishing a landlord-tenant relationship. Read Article