The Lease and License Agreement is a crucial document in Singapore's property market, used when parties wish to establish both possessory rights and usage permissions for real estate. This hybrid agreement is particularly valuable when the arrangement requires elements of both exclusive possession and controlled usage rights. The document typically incorporates Singapore's stringent property regulations, including requirements from the Planning Act and Building Control Act, making it suitable for various commercial and residential arrangements. It provides comprehensive coverage of rent/fees, maintenance obligations, permitted uses, and termination conditions while ensuring compliance with local property laws.
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1. Parties: Details of the lessor/licensor and lessee/licensee
2. Background: Context of the agreement and property details
3. Definitions: Key terms used throughout the agreement
4. Grant of Lease/License: Core terms of the lease/license grant
5. Term and Renewal: Duration and renewal provisions
6. Rent/License Fee: Payment terms and schedule
7. Security Deposit: Deposit amount and conditions
8. Use of Premises: Permitted use and restrictions
9. Maintenance and Repairs: Responsibilities for property upkeep
10. Termination: Conditions for ending the agreement
1. Fit-out Works: Terms for renovation/modification, applicable for commercial properties requiring renovation
2. Option to Purchase: Terms for potential property purchase, included when offering purchase rights to tenant
3. Subletting/Assignment: Rights to sublet or assign the lease, included when subletting might be permitted
4. Break Clause: Early termination provisions for long-term leases or when specifically requested
1. Property Description Schedule: Detailed description of the premises including floor plans
2. Rent Schedule: Detailed breakdown of rent/license fee payments
3. Inventory List: List of fixtures, fittings, and furniture included
4. House Rules: Building regulations and usage rules
5. Fit-out Guidelines: Technical specifications for permitted modifications
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