Difference between Lease Deed and Leave & License

Leave & License and Lease Deed may seem like something very similar, and you may have heard the terms utilized conversely. Nonetheless, Leave & License and Lease Deed are two separate legitimate ideas that offer various rights and obligations.

Difference-between-Lease-Deed-and-Leave-&-License

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Lease Deed	Leave and License
The parties to a lease are the lessor and lessee. Lessor is the person who grants the lease and lessee is the person who accepts the lease.	The parties to a license are licensor and licensee. The licensor is grantor of license and licensee is the person to whom the license is granted.
In a lease the actual possession is transferred to the lessee.	In a license the actual possession remains with the licensor, the licensee getting only the right to use the property.
A lease is a transferable and heritable right.	A license is neither transferable nor heritable.
Stamp duty is higher.	Stamp duty is lower.
Governed by Rent Control Act.	Governed by Indian Control Act.
Lease agreement gives the power to alter or construct.	License agreement does not give the power to alter or construct unless specified.
Not revocable by the landlord.	Revocable by the landlord.
Death of either party does not affect a lease as it is a heritable right.	A license is terminated by death of either party.
Lease creates interest on the leased property in favor of the lessee.	In license no such interest is created in the favor of the licensee.
A lease creates an interest in the property.	A license does not grant any interest in the property.
A lease requires a written or oral agreement between two parties.	A license does not always require a written agreement.
In a lease the money to be rendered is called rent.	In a license the compensation be paid for the license can be called compensation, license charges, fees, etc.
A lease can be even in perpetuity.	A license is generally for a fixed period of time.
Termination of lease requires notice to be served on the lessee.	Termination of license can be done without notice.

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Example:

I have a property which I need to give for Leave and License. One organization is intrigued yet their Legal Department needs me to carry out Lease agreement rather than Leave and License?

It is a general practice by such Organizations to go into a lease agreement rather leave and license agreement since they will at that point have an enthusiasm for the property. As such, they will have more power over the property. The lease agreement for the period might be chosen commonly, it isn't significant that you ought to submit to the conditions they would attempt to force, you can make changes fitting to your taste as well.