NOTARIAL LEASE AGREEMENT
A Notarial Lease Agreement is a contract between the lessor and the lessee, signed before a notary public and registered at the Deeds Office. This contract allows the lessee the temporary use and enjoyment of the property in exchange for a consideration paid to the lessor. Most Lease Agreements have renewal periods after one year and they do not need to be registered at the Deeds Office. A Notarial Lease Agreement in respect of immovable property can only be registered at the Deeds Office if:
- the lease is for 10 years or longer;
- the lease is for the natural life of the lessee or any other party to the lease agreement; and
- the lease agreement will be renewed from time to time.
Book a consultation for assistance with the formalities and registration of a Notarial Lease Agreement.