Longer-term lease agreement for immovable property.
A Lease Agreement is used for longer-term occupation of property (typically beyond 11 months) and, unlike a short-term rent agreement, generally requires registration under the Registration Act. It's common for commercial premises and longer residential arrangements.
They serve the same basic purpose, but a lease is typically for a longer, fixed term and generally must be registered, unlike most short-term (11-month) rent agreements.
An unregistered lease that legally requires registration may not be admissible as evidence of its terms in court — registration matters for enforceability.
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