Dear Sir / Madam, I had taken a shop on leave & license agreement 7 months ago. Agreement is of 3 years while the lock-in period is of 12 months. After taking possession I learnt that there is no business at this spot and tenants before me had vacated within 4 to 6 months for the same reasons. They didnt have any lock-in. I conveyed the problem to the owner but he said its your problem. Also, for some reasons, recently I had to shift my home to another location which is very far away from my shop and commuting everyday is leading me to lot of mental and physical stress. Is there anyway I can break this agreeement and move out? Since now, slowly I will be getting short of funds to pay the rent because there is no earning. Also my career's 1 year is going waste and I am getting in financial loss because of this. Thanks & regards
What are the terms and conditions of the lease regarding the lock-in-period? Usually, if the leased property is vacanted within the time of lock-in- period, the lessee shall pay the rent to the lessor from the date of vacation till the end of lock-in-period.
Thank you for your reply and sorry for replying to you late.
It is not stated in the agreement as to what happens if the place is vacated within lockin period. As per my interpretation, its written that I can vacate after lockin is over by giving 2 months advance notice.