Leave and License Agreement

The cardinal distinction between a lease and a licence is that in a lease there is a transfer of interest in the premises, whereas in the case of a licence there is no transfer of interest, although the licensee acquires a right to occupy the premises. When premises are given out on lease or tenancy basis the legal possession of the premises in these cases is also deemed to be transferred to the lessee and tenant respectively.

In a leave and licence agreement, the owner is deemed to be in legal or judicial possession of the premises and the licensee is in constructive possession of the premises.
 

Plz tell me what are the benefits of opting for Leave & License Agreement instead of Lease Agreement?

hi

Please tell me who holds the risk and reward associated with the ownership in a Leave and license agreement. and implication of AS 19 about this agreement?

Suppose Mr A has incurred some expenses on flooring in premises acquired under this agreement than should it be capitalised??

thanx