107: Leases how made

Leases how made.—A lease of immoveable property from year to year, or for any term exceeding one year, or reserving a yearly rent, can be made only by a registered instrument. [All other leases of immoveable property may be made either by a registered instrument or by oral agreement accompanied by delivery of possession.] [Where a lease of immoveable property is made by a registered instrument, such instrument or, where there are more instruments than one, each such instrument shall be executed by both the lessor and the lessee:] [Provided that the [Provincial Government] may, [* * *] from time to time, by notification in the [official Gazette], direct that leases of immoveable property, other than leases from year to year, or for any term exceeding one year, or reserving a yearly rent, or any class of such leases, may be made by unregistered instrument or by oral agreement without delivery of possession.]

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