RIGHTS AND LIABILITIES OF LESSOR AND LESSEE
A lessor is the owner of a property who leases it to a lessee, who is the person or entity who rents the property. In a lease agreement, both parties have certain rights and liabilities. Here are some of the key rights and liabilities of lessors and lessees:
Rights and Liabilities of Lessor:
The lessor has the right to receive rent payments from the lessee, as agreed upon in the lease agreement.
The lessor is responsible for maintaining the property and making any necessary repairs, unless the lease agreement specifies otherwise.
The lessor has the right to inspect the property, with reasonable notice to the lessee, to ensure that it is being kept in good condition.
The lessor is liable for any defects or dangerous conditions on the property that they knew about or should have known about.
The lessor has the right to terminate the lease agreement if the lessee violates any of its terms or conditions.
Rights and Liabilities of Lessee:
The lessee has the right to use and occupy the property as specified in the lease agreement.
The lessee has the obligation to pay rent on time, as specified in the lease agreement.
The lessee is responsible for keeping the property clean and in good condition, except for any repairs that are the lessor’s responsibility under the lease agreement.
The lessee is liable for any damage they cause to the property, beyond normal wear and tear.
The lessee has the right to terminate the lease agreement if the lessor fails to fulfill their obligations under the lease agreement.
It is important for both parties to carefully review the lease agreement and understand their rights and liabilities before entering into the lease agreement.
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