What is the difference between a lease and a license?
A. 25. Following are the basic differences between the two, though a close scrutiny of the document creating the same by an expert lawyer shall be required for better appraisal :A] License is governed by the Easements Act, 1882, while the lease is governed by the Transfer of Property Act, 1882.B] If an interest is created in a property it is lease, but where only a permission for user is granted, it is license.C] Generally if an exclusive possession is granted it is lease else license.D] It will basically have to be construed from the document creating it.E] normally a lease is for a longer period and license for a pretty short period.
