A blank lease agreement is a signed agreement reached between a lessor and a lessee in which the main terms of the lease are not filled in but left blank until an agreement is reached. A lease agreement is a legally binding contract that is signed between two parties in relation to a property to be leased or rented, as reported by About.com.Continue Reading
The party owning the property and giving it out on lease is called the lessor or landlord, and the party taking the property on rent is called the tenant or the lessee. The most important parts of a lease agreement pertain to specifying the names and addresses of the parties involved, the exact address and location of the property, the lease period, and the rights and liabilities of all parties, according to About.com. Signatures of all parties make the agreement legally binding.
In a blank lease agreement, all the above terms are not completed until the end of negotiations, and these terms may undergo modifications until an agreement is reached. Blank lease agreements can be usually found in case of organizations entering into bulk leases. Examples of blank lease agreements are widely available online at websites such as FormsMax.com.Learn more about Real Estate