quesResidential flat on lease

We are staying in a leased out residential house from a year now. The lease period is for 3 years we have paid 9 lakhs. Now the owner who has taken loan with the bank is unable/behind in paying his instalment the bank has already served notices many times. We were unaware of this when we leased the house. Now what will be our position after 2 years or earlier if he cannot pay the bank. Will we loose 9 lakhs of our hard earned money? Please advice us as to how we can get our money back?

  • ansSince you have entered into lease agreement for 3 years you can only be evicted after expiry of lease period. If the owner cannot repay the bank then bank will take recovery proceedings against defaulter. If you have paid any security deposit and lessor fails to return the same you can file summary suit against the lessor for return of security deposit .on expiry of the lease period. You must contact a local lawyer.

  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Landlord/Tenant Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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