Document background
The Online Residential Lease Agreement serves as a legally binding contract between landlords and tenants in Pakistan, facilitating the digital execution of residential property rentals. This document becomes necessary when parties wish to enter into a residential lease arrangement through electronic means, requiring compliance with both traditional property laws (such as the Transfer of Property Act 1882) and modern electronic transaction regulations. The agreement incorporates all essential elements of a standard lease while ensuring validity of digital execution under Pakistani law. It's designed to protect both parties' interests while streamlining the rental process through online platforms, making it particularly relevant in today's digital age where remote transactions are increasingly common.
