Can lessee bequeath the lease right
hetalsangoi
(Querist) 01 September 2017
This query is : Resolved
can lessee bequeath the lease right ?
Mr Lakshibhai has taken the lease proeporty for 999 years on lease basis in 1939 and later some years she sold the property to Mr Gange .Mr lakshi has left the will and same property is bequeath to his son?
is her son owner of the lease right as a lessee?
Ms.Usha Kapoor
(Expert) 02 September 2017
in long leases such as this or leases in perpetuity the the lessee can sell or assign his leasehold right subject to a contract to the contrary between the landlord. and tenant..In this case Since lakshi bhai already sold his leasehold right to someone I doubt whether he has any interest left in the leaseholds property. In such circumstances he can't bequeath his leaseholds right to his son.
The right to sell
To deal with the comment on the forum – renting a property is NOT the same as borrowing a book! Unlike a book borrower, the tenant has a legal interest in the land, and is also a party to a binding legal contract under which he pays rent.
And – the tenant DOES have the right to sell it!
Not the freehold of course, the tenant does not own the freehold, but the tenancy or lease. It is known as ‘assignment’ and is very common with long leases – if you ‘buy’ a flat, in most cases what you are actually doing is taking an assignment of a lease of the flat.
In short lets the right to assign the tenancy is still possible but in most cases is excluded under the terms of the tenancy agreement – landlords do not want to carefully screen and reference tenants only to have them assign the tenancy to an impecunious troublemaker. However in some circumstances they can still be assigned.
