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The License Agreement For Use Of Real Property is a crucial legal instrument in the Indian real estate landscape, designed for situations where temporary or limited property use rights are required without transferring possessory interests. This document is commonly used for commercial arrangements such as pop-up stores, temporary office spaces, event venues, or shared facilities. The agreement must comply with Indian property laws, including the Transfer of Property Act, 1882, and various state-specific regulations. It typically contains provisions for use restrictions, maintenance obligations, payment terms, insurance requirements, and termination conditions. Unlike a lease, this agreement creates a personal right to use the property rather than an interest in the property itself, offering greater flexibility for both parties while maintaining legal enforceability under Indian law.
