Mortgage of lease property
Manoj
(Querist) 29 April 2012
This query is : Resolved
"A" has leased his office to a "B" a government institution the period expires in the year 2015 and a lease deed has been executed between them.
My query is
1) Can A, the lessor sale the office during the subsistence of lease.
2) Can a person buying the property mortgage the leased property to borrow a loan to buy it.
3) What are the documents that needs to be eexecuted between the Buyer and Lessee as if sale deed is executed.
4) Any confirmation deed is required to be executed between the Lessee and the new buyer.
prabhakar singh
(Expert) 29 April 2012
1) Can A, the lessor sale the office during the subsistence of lease.
ANSWER: yes!
2) Can a person buying the property mortgage the leased property to borrow a loan to buy it.
ANSWER: yes!
3) What are the documents that needs to be eexecuted between the Buyer and Lessee as if sale deed is executed.
ANSWER:none,the new buyer shall step in to shoes of the lessor/owner/vendor by effect of law.
4) Any confirmation deed is required to be executed between the Lessee and the new buyer.
ANSWER:no,the lease in existence is binding upon the new buyer.
ajay sethi
(Expert) 29 April 2012
wghat are the clauses in lease deed ?
generally lease deed contains a provision that during the period of lease if property is sold by lessor the lease shall not be terminated .
agree with prbahkar singhji no further confirmation deed is necessary
Shonee Kapoor
(Expert) 01 May 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Manoj
(Querist) 02 May 2012
thanks to all experts
