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In this video, the League Raster team explains the "notice to vacate premises by tenant" in India. This legal notice is used by a tenant to inform the owner of their decision to vacate a property, detailing personal information and the timeframe for moving out. Providing this notice is crucial to prevent future disputes between tenants and landlords. Key elements include the vacating date, which allows the owner to prepare for the tenant's departure, check for any damages, and ensure all dues are settled before the tenant leaves. The video also outlines the execution of this notice process.