Tri partite agreement
PARTH
(Querist) 15 October 2013
This query is : Resolved
We bought a property in gujarat, the said property was given on lease to one of the bank, the said bank's branch is running at the aforesaid property.
To inform you that, the Lease Deed was executed by the PREVIOUS OWNER FROM WHOM WE BOUGHT THE LEASED PROPERTY.
The sale deed was duly registered in our name, but due to some misunderstanding there after, the PREVIOUS OWNED DID NOT SIGN THE TRI PARTITE AGREEMENT. AND DID NOT REFUND THE BANK'S DEPOSIT.
UPON NON SUBMISSION OF TRI PARTITE AGREEMENT , BANK IS NOT PAYING RENTALS TO US.BANK IS TAKING STAND THAT , YOU FIRST GET THE OLD OWNER IN FRONT OF US AND EXECUTE THE TRI PARTITE AGREEMENT. THEN ONLY WE CAN START MAKING PAYMENT TO YOU.
PLEASE ADVICE WHAT BEST SHOULD WE DO IN THIS MATTER ?
(Old Owner is not at all ready to sign the Tri partite Agreement )
ajay sethi
(Expert) 15 October 2013
before purchasing property you should have asked seller to obtain vacant possession . read terms and conditions of lease deed . there must be a clause regarding sale of property during period of lease deed . contact a local lawyer . you can afford legal fees
Devajyoti Barman
(Expert) 15 October 2013
There is no need of tripartite agreement. Once you purchase the house, you step into the shoes of the erstwhile owner and hence become the new lessor of the bank.
Now on production of sale deed the bank is bound to pay the rent.
If not, then file a suit for eviction on the ground of default of rent.
R.K Nanda
(Expert) 15 October 2013
agree with experts.
Rajendra K Goyal
(Expert) 15 October 2013
No need of executing the tripartite agreement. Directly claim from Bank. If Bank does not agree send legal notice.
PARTH
(Querist) 17 October 2013
Thank You All For your valuable Suggestion and Reply,
Further i would like to state here that ,
the Said Lease Deed ( As executed by Old Owner ) does not contain any clause pertaining to the sale of the property. means it is totally silent on the Sale and its consequences.
What best we can do to resolve this ?
Please Advice,
Accept our thanks in advance,
Devajyoti Barman
(Expert) 17 October 2013
Your query is already replied and resolved.
There is no point in repeating the same.
PARTH
(Querist) 18 October 2013
Mr.DevaJyoti,
I am not repeating the query Sir, i am just making it clear to Mr.Ajay Sethi that nothing is mentioned in the Sale Deed.
Anyways ..
thanks
ajay sethi
(Expert) 18 October 2013
since sale deed is completely silent on consequences off sale during continuance of lease bank cannot insist on tripartite agreement being executed for payment of rent. offer to return the bank deposit and ask them to pay arrears of rent and vacate the premises .
