What document should be prepared for possession in land development?
If a private trust owns land and an individual invests in constructing or developing that land, and the trust wants to give possession to that individual, what type of document should be prepared between them?
Dear Client, The property in question can be transferred to the individual by executing the appropriate instrument, depending on whether the trust wants to transfer exclusive possession or certain specific interest in the property to the person. The instrument may be a lease deed or even a license agreement. A lease deed transfers the right to enjoy the property for a fixed term, while license agreement entitles the transferee to occupy the land without forming any interest in it. I hope this answer helps. In case of future queries, please feel free to contact us. Thank you.
If a private trust owns land and someone invests in developing it, you will need a Development Agreement to outline the investment, roles, and profit-sharing. If possession is being handed over, a Possession Letter or a Lease Agreement may be required. Always register these agreements for legal protection. For further legal assistance contact us on our helpline number.
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