Property license agreement takes place between property owner and the person who want to take license for using the property. The agreement sets forth the rules and regulations regarding property usage and licensing rights given to the licensee.
Sample Property License Agreement
This agreement is made between the Property Owner and the License applicant on 21st June 2011. The agreement will be effective from 1st July 2011.
The duration for the license agreement will be 5 years from effective date. License could be renewed with the consent of both the parties.
The applicant is given the license to use the Building as commercial complex for offices and shops. The licensee will be responsible to use the property in safe and lawful manner and will be responsible for maintenance during above period.
Details of Property Owner
Title/Name: District Development Authority
CEO: Mr. Harmon Roth
Contact Number: 487652039
Details of Licensee
Name: Mr. Joe Mildonhall
Contact Number: 489632075
Business Details: the person is in real estate business
Terms and Conditions of agreement
The licensee will be responsible for any damage to the property during his usage period and will have to bear the repair expense. Licensee must have to deposit all electricity, water, security staff related bills on time to the concerned departments.
The licensee will pay $ 5000 per year to the authority as license fee and will deposit $2500 as security money at the time of taking possession of property.
The licensee cannot further transfer the license to any other individual or a company.