Lease - Indian Laws - General

Meaning of word Lease A lease connotes a transfer of a right of enjoyment in immoveable property for a certain time in lieu of consideration. Mulla on the Transfer of Property Act 1882 (13th edn) Section 105 of the Transfer of Property Act 1882 defines- a lease of immoveable property as a transfer of a right to enjoy such property, made for a certain time, express or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on specified occasions to the transferor by the transferee, who accepts the transfer on such terms. [MINERAL AREA DEVELOPMENT AUTHORITY ANR. VERSUS M/S STEEL AUTHORITY OF INDIA ANR ETC.- 2024 (7) TMI 1390 - SUPREME COURT (LB)]