Dear Sirs,
My father had let the a shop for Rent some 40 years ago, The tenant died some 4 years ago, and my dad renewed the deed, the deed was prepared by the Tennant, I and my brother ( who was a minor then ) and my father were made lessors. I signed the deed without understanding it properly and without consulting the lawyer. Tenant was giving rent of 4,000P.M, but in the Deed it is 15,000 P.A. and my father gave him the receipt of 15,000 P.A on which Tennant has not signed on the receipt.
After some years I came to know that the DEED is for 25 years and every Five years the rent can be increased, and also some points are also there which are in Tenant favour. Now My Question can the Deed Renewed? Can a notice be a send to tenant to renew the DEED? or will it be possible only after 25 years? Please let me know what to do? Please go throught the attached Document. Awaitng for Reply, Thanks in Advance.
Reagrds,
Basavaraj Salimath.