Real Estate Jargons on your Fingertips: Lease Agreement / License Agreement / Non-Disclosure Agreement
When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.
But we give you a solution!!
Read this space every Tuesday & Wednesday for Real Estate Jargons.
- Lease agreement is one type of contractual agreement made between the lessee (user) and the lessor (owner) to lease out the property for a period of time.
- The terms cannot be changed until the lease term expires and it should be strictly followed by both the parties.
- License agreement is referred as the written agreement which is entered into by the owner of the property who gives permission to another person to use the property or involve any activity with regards to the property.
- A non-disclosure agreement or NDA is a legal contract signed between two or more parties outlining confidential materials, knowledge or valuable information which the parties share among themselves for business purposes but wish to restrict the access to third parties.