5.9 Commercial Leases

The vocabulary and anatomy (UK):landlord/tenant (lessor/lessee); the term (fixed years); rent and rent review; repairing obligations (full repairing and insuring — FRI); assignment andsubletting (transferring the lease vs sub-granting — consent clauses); forfeiture (landlord's termination on breach); break clauses (early exit rights); security of tenure (business tenants' statutory renewal rights); drafting: premises description, permitted use, covenants (quiet enjoyment; non-derogation from grant), deposits and guarantees, insurance, dilapidations at exit. Nepal: lease of property sits in the Civil Code 2074's lease-of-property chapter and the Contract Act's general framework (rent, lessor/lessee, (lease)), plus long- standing practice of thebas, ukus, and commercial tenancy's deposit custom (advance). Landlord- tenant disputes have their own summary procedure history (the older special laws on rent; eviction on expiry; the local judicial committees' and courts' current division of work). Thelawyer's tasks: drafting (precise premises, term, escalation formula, maintenance allocation, exit condition); due diligence (title verification at the Land Revenue Office; encumbrances; zoning/ permits); and the negotiation of renewal and break rights — the tenant's real protections in a rising market.