Extension Of A Lease - Download Free Template
Extension Of A Lease

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What are the primary components typically included in a lease extension agreement template?

A lease extension agreement template typically includes essential components such as the parties involved (landlord and tenant), property details, the current lease terms, the proposed extension terms (including the new lease duration and rent adjustments, if any), renewal options, any additional terms or conditions, and the effective date of the extension. These elements serve to formalize the extension of the existing lease, providing clarity and legal protection for both parties.

Is a lease extension agreement template legally binding?

Yes, a properly executed lease extension agreement template is legally binding. It serves as an addendum to the existing lease, outlining the agreed-upon terms for extending the lease period. Both the landlord and tenant must sign the extension document to make it legally valid. Violating the terms of the lease extension can lead to legal consequences, including eviction or financial liabilities, depending on the terms specified in the agreement and applicable laws.

Can I customize a lease extension agreement template to suit the specific terms of my lease extension?

Yes, lease extension agreement templates are often customizable to accommodate the specific terms and conditions of the lease extension. Landlords and tenants can negotiate and amend the template to include details such as the new lease duration, rent adjustments, and any additional clauses or provisions that are relevant to their situation. It's crucial to ensure that both parties agree to the modifications and that the customized agreement complies with local rental laws and regulations. Consulting with legal professionals or real estate experts can be valuable when making significant changes or addressing unique circumstances.

Write a formal letter to your landlord expressing your intention to extend the lease. Include the extension period, any revised terms, and request a response in writing.

The format typically includes the names of the landlord and tenant, the property details, the extension period, any updated terms, and both parties' signatures.

To extend a leave and license agreement in India, communicate your intention to the licensor (landlord) in writing, specifying the extension period and any revised terms. Ensure both parties sign the extension document.

Request an extension by sending a written notice to your landlord, detailing the desired extension period and any proposed changes to the agreement. Ensure the agreement is duly signed and registered if required by local laws.

The maximum period for a lease agreement in India is generally 11 months. Agreements longer than this duration usually require registration under the Registration Act, 1908.
EXTENSION OF LEASE AGREEMENT

 

 

This Extension of Lease Agreement (the “Agreement”) is made and effective [DATE],

 

 

BETWEEN: [YOUR COMPANY NAME ] (the "Landlord"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

 

[YOUR COMPLETE ADDRESS]

 

 

AND: [TENANT NAME] (the "Tenant"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:

 

[COMPLETE ADDRESS]

 

 

RECITALS

 

This Agreement is relative to a certain Lease Agreement for premises known as [DESCRIBE] located at [ADDRESS] and dated [DATE].

 

 

TERMS

 

For good consideration, Landlord and Tenant each agree to extend the term of said Lease for a period of

[TIME PERIOD]

commencing on

[DATE]

, terminating on

[DATE]

, with no further right of renewal or extension beyond said termination date.

 

During the extended term, Tenant shall pay Landlord rent of

[AMOUNT]

payable in advance.

 

It is further provided, however, that all other terms of the Lease shall continue during this extended term as if set forth herein.

 

This agreement shall be binding upon and shall inure to the benefit of the parties, their successors, assigns and personal representatives.

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

 

 

LANDLORD TENANT

 

 

 

Authorized Signature Authorized Signature

 

Print Name and Title Print Name and Title