Just like you, I had questions about lease property, I wondered ‘can a lease property alienated by owner’? I will share my learnings below. Under the Indian Contract Act, 1872, a lease agreement is considered a contract between the lessor and the lessee, and the terms of the contract must be respected by both parties. The lease agreement sets out the rights and obligations of the lessor and lessee with respect to the leased property.
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Can a lessor alienate leased property?The lessor's ability to alienate leased property depends on the terms of the lease agreement between the lessor and the lessee. If the lease agreement contains a provision allowing the lessor to transfer or dispose of the leased property, the lessor may be able to do so.
However, the transfer of the leased property must not interfere with the rights of the lessee. For instance, if the lessee has a right to quiet enjoyment of the leased property, the transfer of the property must not disturb this right. Additionally, the lessee has the right to be informed of any transfer of the leased property, and the transfer must not alter the terms of the lease agreement without the lessee's consent.
Under the Indian Transfer of Property Act, 1882, a leasehold interest is considered an "interest in immovable property," and as such, it can be transferred or assigned by the lessor to a third party. However, the transfer must be in accordance with the terms of the lease agreement and must not prejudice the rights of the lessee.In general, it is advisable for the lessor to obtain the consent of the lessee before transferring or disposing of the leased property, as this can help to avoid disputes and ensure the smooth transfer of the property.
Can a leased property alienated by owner?A lessor may be able to alienate leased property, provided that the transfer does not prejudice the rights of the lessee and is in accordance with the provisions of the Contract Act, 1872, the Transfer of Property Act, 1882, and any applicable rent control legislation.
This is all from my end on ‘
can a lease property alienated by owner’.
Read more:
Can I Sell My Rental Property With Tenants In It?
How long can a tenant stay after the lease expires?
Who is the Freeholder of a Property?
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Can a lease property alienated by owner?
Neeta
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2023-02-07T15:53:40+00:00 2023-02-07T18:54:48+00:00Comment
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