Lease is contract for lessee to pay the lessor for use of an asset. Lease agreement is a document written between the owner of a property and a renter to have temporary assets of that property. Lease agreement identified The parties, The property, The term of rental and Amount of the rent for term.
Lease agreement can be considered a formal legal manuscript between a landlord and a tenant in order to reflect terms of negotiations between them. It ensures that lease terms have been negotiated and agreed upon. This agreement can be written for movable and immovable things. It can be written for land, machinery, transport etc.
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