Rights of tenant in case of sale of property
Jatin Biswakarma
(Querist) 01 April 2013
This query is : Resolved
Hi,
We want to take a property on rent for 10 years (It's on rent, not lease). We want to know whether the terms of tenancy shall remain with the property in case of sale of the property by landlord? If we keep such a clause in the Rent Agreement will that be valid as per Indian Property Law and Indian Contract Act?
Plz help.
It's URGENT.
Thanks & egards,
Jatin
Devajyoti Barman
(Expert) 01 April 2013
Yes, tenancy would continue with the sale of the property.
Jatin Biswakarma
(Querist) 01 April 2013
Thank you Mr. Barman for replying quickly. Thanks a lot Sir.
Raj Kumar Makkad
(Expert) 01 April 2013
You have not mentioned which term you want to insert in Rent agreement?
An owner is always free to sale his property to any person with or without possession whereas the tenancy is a separate term which has no direct connection with the chnge of the ownership.
Jatin Biswakarma
(Querist) 02 April 2013
Dear Mr. Makkad,
My question is -
1. Whether tenant has to vacate the property if it is sold by the owner?
2. Is entering the following Clause valid in a Rent Agreement:
"The terms of this tenancy shall remain with the property; sale of the tenanted premises or portions thereof shall not invalidate tenancy terms" ?
In nutshell we want to use the property for around 10 years and we can not vacate it before 10 years, even if it is subsequently sold to someone else. So, whether the above mentioned clause will be sufficient to secure that ?
Devajyoti Barman
(Expert) 02 April 2013
1. No
2.Yes
Even if you do n or include the term the same remain valid.
Jatin Biswakarma
(Querist) 02 April 2013
Thank you Mr. Devajyoti Barman for your reply.
Regards,
Jatin
