A lease of immovable property is a transfer of rights to enjoy such property, made for certain term, express or implied, or in perpetuity in consideration of price paid or promised of money to be rendered periodically or on specified occasions to the owner by the transferee who accept the transfer for such terms .
- Renewal of Lease
- Transfer of Lease
- Subdivision of site
- Proforma of leases in Cantonment
- Detail of leases given in civil area of Cantonment
The owner of the property is called lessor, the transferee is called lessee. The price is called a premium and the money to be so rendered periodically is called rent.
The written contract between the lessee and the lessor specifying on the terms and conditions governing the lease.
Types of Lease:
Two categories of lease are in existence in Cantonment –
- One is relates to transfer of land only.
- Other relates to transfer of buildings.
Invariably all type of leases provide for parameters of permissible construction in the property involved, any construction in violation of these parameters can result in cancellation of leases and resumption of property.
Every lease in the Cantonment is granted for a specific purpose which is clearly mentioned in lease deed. Any change of purpose by the lessee without prior permission of lessor is likely to result in cancellation of lease deed and resumption of the property by the lessor.
Every lease has a specific term which is mentioned in the lease deed and holding over the property by the lessee beyond the specific term requires prior permission of the lessor without which the property can be resumed by the lessor. Some lease has indefinite term called perpetuity.