The land lord right?
shyam lal sharma
(Querist) 01 August 2012
This query is : Resolved
Learned Advocate
A landlord has mortgaged his house to Nationalised Bank for 35Lakhs Registered deed in the 2011 and the same house has been leased out for 2years to my friend for 15lakhs unregistered lease deed last month, possession already taken and paid full amount through Cheque. The Property worth more than 85-90Lakhs.
My Queries are as follows;
Once the landlord has mortgaged his property to Nationalised Bank did he having the right to let the property in lease.
Is there any problem to my friend who is in possession of the property.
Thanks in Advance
ajay sethi
(Expert) 01 August 2012
under terms of mortgage he ought to have obtained bank sanction before giving premises on lease . if your friend has paid security deposit inorder to protect his interest insist on immediate registration of lease deed .
request the landlord to obatin bank consent for lease .
shyam lal sharma
(Querist) 02 August 2012
Thanks a lot
obatin bank consent for lease is mandatory or not?
prabhakar singh
(Expert) 02 August 2012
1.If mortgage is without possession,lease can be legally made.
2.the permission of mortgagee bank would be depending on terms reduced in writing between mortgagor and mortgagee.If it provides for such a pre permission then one shall have to take otherwise not.
3.the lease mentioned by you is very much illegal and void in law as it was not possible without registration.law permits unregistered leases when period of the lease is less than a year.
4.at any rate of the matter the transaction is not binding on the bank for several reasons.
5.the lessee of this lease has not earned any demise of possession of property in his favor.
