LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Bala (IT Engineer)     09 May 2012

Renting out a property

i own some flats in chennai where i have tenants staying there for years. close to 4 years.

generally there is something i came across that when people were renting our house for many years, they subsequently become the rights to own some share of the property...is it true ?

is it advisable to rotate tents in the house so that we dont have a same tenant staying there for years.i dont want to tenant to gain any side of power on the property just because they lived there for year.

to avoid such tenant problems, in general, what are the things to be cautious about while renting out a property.


 



Learning

 2 Replies

Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com))     09 May 2012

Dear Mr.Bala, 

Once a tenant always a tenant. The law that you are talking about is "acquiring title by adverse possession" if one person acquires and possesses property belonging to another adversely to him and negates the other's title while having no title himself, if he continues to do that for 20 years and the real owner does not sue - then he acquires ownership. 

As a measure of protection against such tenants you should have carefully drafted L & L Agreements. 

John (Executive)     11 May 2012

For safe point, it is better to rotate tenants after 3-4 years.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register