Q:Hello,I have rented a 1 bedroom flat in Mumbai and signed 11 month leave and license agreement. There is no lock-in period and the agreement clearly states that, both parties can terminate the agreement by giving 1 month advanced notice. Does this mean I can terminate my agreement in 5 months by giving notice in 4th month. Appreciate your response. Thanks....Ritesh
Latest Answer: Hi All,
This kind of agreement is specific to the city of Mumbai where owner prefer to use this agreement rather than a standard Tenancy or Lease Agreement in order to save on the Stamp Duty and registration charges. A Leave & License agreement is usually for a period of 36 months.
