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The Transfer of the Property Act 1882 ,makes provision for the transfer, usage, and exchange of property from one party to another. Lease deed is a document that includes the terms of contract in which the lessee or the tenant has agreed to pay the lessor or the landlord a rent for the use of the property for a particularly time period.
The lease deed transfers the rights and obligations on a property to other person for a particular time period and on the term as specified in deed. The lease deed consists of payment clause, time duration ,rights and liabilities of parties, and all the compliances related to the property. The lease deed is beneficial for the parties who wants to take any commercial property for a particular tenure.
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