Confirmation Lease Agreement Terms: Fill & Download for Free

Dear User,Thank you for the question.Properties are generally classified into 2 types. viz. Freehold properties and Leasehold Properties.Freehold Properties are those properties wherein the underlying land is in the ownership of the developer.Leasehold Properties are those properties which are developed on land owned by a govt authority or third party. Let's understand this by way of an example. In Navi Mumbai, majority of the lands are owned by CIDCO (City and Industrial Corporation of Maharashtra). These lands are procured by developers on a leasehold basis by way of lease agreement. This lease is also termed as perpetual lease as it is generally for a long tenor of 99 years.Check on the below points while buying leasehold Properties:Tenor of the lease which is left as per the lease agreement and confirm what will be the process for renewal of the lease agreement. To be on a safer side but only those properties which has a balance lease tenor of more than 50 years.In leasehold Properties you need NOC from the authority for availing home loan and for further sale of property. Understand the process for obtaining this NOC and the cost involved for obtaining the same. Generally, this process is very tidious and time consuming.Check on the approvals for the projects thoroughly whether construction is as per the approved plans. Hence, it is always better to obtain bank loan on such properties as it will help in checking the legality and technical clearance of the property.Below are the additional documentation which one needs to obtain for different kind of Leasehold property:TYPE 1:Where the Party outrightly purchases Flat /Home from Authority in buildings constructed by Authority:Allotment letter from the authority.NOC from the authority.TYPE 2:Where Authority has given Land to individuals and the individual constructs the House: It is self construction cases.Agreement to lease between Authority & applicant.Blue print of building plan approved by Authoritiy.Commencement Certificate from authority for construction.NOC from Authority for taking loan for purchase of the property.Development Agreement.(In case the plot is owned by one person and the building is made by another/builder).TYPE 3:Where Authority has given Land on lease to builders (TENDER PLOTS):Agreement to lease between Authority and builders.Blue print of architect’s plan with sanction/approval from Authority /building proposal dept.Commencement letter for construction i.e. Sanction letter from Authority / town planning/building proposal dept.NOC from Authority & Builders for mortgaging property to the bank — As the land is owned by the authority and builder is the Lesee who is constructing the building you will need NOC feom both the authority and builder for availing the home loan.TYPE 4:Where Authority has given Land on lease directly to Society:Agreement to lease between Authority & Society.Blue Print of building Plan approved by authorities.Commencement certificate issued by authorities.Society’s registration certificate.List of Society members approved by Authoritiy.NOC from Authority & Society for mortgaging property to any bank.Allotment letter issued by Society to the flat purchaser.Share Certificate.Additional Requirement if Society assigns development rights to developers / builder.Development agreement between Society and BuilderPower of attorney from Society to Builder.Partnership deed of builder’s firm (If its a partnership firm)NOC from builder for mortgaging property to any bank.Registered agreement for sale between builders & applicant with Registration Receipt thereof.Type 5:Resale of leasehold flats:Original deed of apartment between Authority & existing owner.Original Allotment Letter of in name of existing owner.Registered agreement for sale between existing owner and proposed buyer with Registration Receipt.NOC from Authority for transfer of existing owners rights in favour of new buyer and for mortgaging property to any bank.NOC from Society for bank loan and transfer on records of society.Loan on leasehold property can be done by majority of the banks / FI's.Apart from this if you are buying a property which is pre leased. Then you need to take care of the below points before buying.Buying a Leased Property:Buying a Pre-leased property is a common phenomenon and banks do lend for buying such properties. Majority of the reknowned banks/FI lend on such properties. Pre-leased property can be residential or commercial. Below are the points you need to take care before buying a Pre-leased property on loan.Lease Agreement —The lease agreement with lesee has to be valid. Banks will always require a Registered lease agreement.If the lease agreement is expired then please insist on renewal of the lease agreement or make the lesee vacate the property before you enter into any agreement with the seller for purchase of the property.You need to execute a fresh lease agreement with the lessee once the ownership rights are transferred in your name. Obtain a undertaking from the Lesee prior to entering into any documentation for buying the property. The undertaking should clearly state that the lesee will enter into a fresh lease agreement on agreed terms with new buyer of the property.Occupancy of the Property —Check on the occupancy of the property. The property must be occupied by lesee only. In many cases, lesee may sub-lease the property to someone else without the knowledge of original owner. In such cases there are issues in vacating the property. Hence, please verify the occupancy of the property upfront.Rental Credits —If your intention to buy the property is for earning rental income. Then, rental credits play a very important role.Check on the rental Credits. Go through the bank statements of owner and check whether the tenant is paying the rentals regularly.Informing the Lesee —It is very important to inform the Lesee that the original owner is selling the property and that the lessee has to execute a fresh agreement with the new owner once the property is transferred on papers.Undertaking from the lessee that the rentals will be transferred to the new owners bank account from a specified date.Inform the tenant that there is a loan on the property and of the borrower of the loan defaults in returning the loan back to the bank, then bank has a right to take possession of the property and in such scenario the tenant has to vacate the property. This declaration is also required by banks prior to Funding.Quality of Lessee:In case of commercial property it is very important that you check on the stability of the Lesee. If your intention is to lease out the property and earn rental income then always lease out the property to reputed lessee like banks, large food chain or some established business houses. As these businesses wouldn't shift their work premise more frequently.Also in future if you wish to avail extended finance on the property then you can get LRD (Lease Rent Discount) loan on your property and such loans require good lessee. Hence, quality of Lessee plays very vital role.Hope your query is answered.For more details please contact in person.Best Regards,Abhishek Kotian.

All you now need to do is prepare to land. If you are landing in Toronto, then these steps will help -Collect your CoPRPlan to land during working hours. Once you have completed immigration formalities, you’ll get your CoPR signed by the immigration officer. Keep this with you safely, forever.Get your SIN numberYou’ll then be asked to move to a separate room that provides SIN number to new immigrants. It hardly takes a few mins.Get a PRESTO card (Details)Get yourself one of these cards from the UP express service counter at the airport, or any Shopper Drug Mart outlet. Load at least CAD 50 in your card. This will help you commute easily on Bus, Metro, Streetcar and Trains. Register the card on the online portal, so that you can reload online. Note: It can take upto 24 hours for your card to reload, after the payment. So ensure you always reload if you have less than CAD 15 left.Get your mobile numberLook for the nearest Rogers/Chatr/Freedom mobile store and get a number for you and your partner. Research ahead of your travel, so you can go straight to the store.Open your Bank AccountArmed with your presto card, commute to your nearest bank outlet and open a Chequing account. If you are a couple, consider opening a joint account. You can operate it individually, and save money on account charges. You can provide your mobile number here. If you are staying in a temporary accommodation for less than two weeks, I recommend giving a friends address for the delivery of your debit and credit cards.Get an Ontario Photo ID card (Details)Visit your nearest ServiceOntario outlet and get yourself a Govt. issued photo ID card. You can use this as proof, if asked.Look for a mid-term accommodationConsidering you are still without a job, look for accommodation on Kijiji. Its hard to score an apartment without a job, so you may have to consider basements or staying in Mississauga/Brampton. If you find what you like, keep an original version of the lease agreement.Get a library card (Details)Libraries are extremely useful here. You get all sorts of resources for job search, skill development, settlement help, etc. They are also great places for people to hang out. You will need a govt. issued ID card to sign up with the library.Sign up for your OHIP cardIf you have found an accommodation and are going to stay there for a few months, then go ahead and apply for your OHIP card, to cover your insurance after 90 days. You can use your CoPR and Ontario Photo ID card or Rental Agreement to sign up for your OHIP card.Take the G1 test (Details)Download the G1 Genie app from App Store or Play Store and keep practicing from time to time. Its really easy to crack. Once you have consistently scored 95% and above, glance through the MTO handbook quickly.Visit your nearest DriveTest outlet, and sign up for the G1 test. Remember to bring your driving license extract issued from your home country. Some mandatory waiting period post G1 will be waived off. You’ll be sent to a room to take your G1 test. 40 questions in total, 20 on rules, 20 on traffic signs. You get a touch screen monitor. Its pretty cool. Once you clear the test, they’ll mail your G1 license to your address.Sign up for Driving classesAs soon as you are done with your G1 test, sign up for driving classes, and plan to take give your G2/G test as soon as possible.Look for a family doctor.Haven’t gotten this far yet. So stay tuned… :D

There may be several factors that lead a landlord to reasonable believe that a tenant has abandoned the property. The California Notice of Belief of Abandonment is for these situations exactly.Under California law, if after 14 consecutive days of non-payment of rent landlords believe their tenants may have abandoned the property the landlords must send the tenants a Notice of Belief of Abandonment. This document clearly sets forth the provision of California law that requires notice to be sent, explains the consequences. The California Notice of Belief of Abandonment is concise and clearly addresses the issues, while informing tenants that their lease agreement will terminate at least 18 days from the date the notice was mailed or 15 days from delivering the notice in person.The document explains the tenants’ obligations if they would like to remain in the property. If the tenants wish to remain in the property they must respond to the notice confirming they did not intend to abandon the property and providing an address where they can receive certified mail in case they will be served for an unlawful detainer action. This document clearly sets forth the terms and gives the tenants an opportunity to respond prior to the landlord taking further action to terminate the lease agreement.Check in your state or region to see if there are similar instruments that you, as a landlord, can use.