¶¶Òõ¶ÌÊÓƵ

Pre Lease Agreements are commonly used in the Pakistani real estate market to formalize the intent of parties to enter into a lease arrangement while certain conditions or preparations are being completed. This document serves as a crucial intermediate step between initial negotiations and the final lease execution, particularly useful when parties need time for due diligence, property modifications, or fulfillment of specific conditions. The agreement typically includes property details, proposed lease terms, security deposit arrangements, and timelines for completion. It provides legal protection under Pakistani law, being governed by the Transfer of Property Act 1882, Contract Act 1872, and relevant provincial regulations. The document is particularly important in commercial and high-value residential transactions where significant preparation is required before the final lease can commence.

1. Parties: Identification of the prospective lessor and lessee with complete details including name, address, and contact information

2. Background: Context of the agreement, including brief description of the property and parties' intention to enter into a lease agreement in the future

3. Definitions: Key terms used throughout the agreement including 'Property', 'Lease Commencement Date', 'Security Deposit', etc.

4. Property Details: Comprehensive description of the property including address, dimensions, and any included fixtures or fittings

5. Proposed Lease Terms: Key terms of the future lease including proposed duration, rent amount, and payment terms

6. Security Deposit: Amount of security deposit, payment timeline, and conditions for refund

7. Conditions Precedent: Conditions that must be fulfilled before the final lease agreement is executed

8. Timeline: Expected dates for completion of conditions, documentation, and execution of the final lease

9. Good Faith Deposit: Details of any initial deposit required and conditions for its refund or conversion to security deposit

10. Termination: Circumstances under which either party can terminate the pre-lease agreement

11. Governing Law: Specification that the agreement is governed by Pakistani law

12. Signatures: Execution block for all parties and witnesses