A property license contract is a written legal document which is made when one party agrees to grant license of use of a property to another party or individual for a fixed period of time and in return for a certain amount of money. The contract can lead to legal implications if its terms and conditions are violated by any of the involved parties.
Sample property license contract:
This contract has been made on the effective date: 3rd July 2011
This contract has been made among two parties known as the licensor and licensee with the following details:
Details of licensor:
Name: Mr. Peter Parker
Address: 3-k, Middle West Street, London
Details of licensee
Name: Mr. Mike Nicholson
Address: D-4, first floor, North district park side building, London
Details of the property:
Address: R-34, Henry’s road end, London
Area of property: 100 acres
Use of property: Commercial use
Length of contract: 24 months starting from effective date of contract
The licensor agrees to grant license to licensee under property license act of the federal state.
The following are the terms and conditions of the contract:
The contract shall terminate on 3rd July, 2013
The licensee shall pay an amount of $20000 each month to the licensor for the entire duration of contract and within the first week of each month.
- The licensee cannot lease the property under any circumstances
- The property must be protected from any violation of the rules and regulations of the property rights.
The following are the signature of the parties: