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Should the lease deed be made again in case of selling the property
31-Aug-2023 (In Property Law)
If i buy a commercial property from an X person and that property already has tenants. What happens to those registered lease deeds. Should they be made again or they can be transferred! Kindly also mention the section under which it comes.
Hi
In the event of the tenants having registered lease deeds, then the lease deed gets automatically transferred to the new owner and the rights of the lessor and lessee shall continue unabated.
However a new registered lease deed is preferred for all practical purposes and should all parties agree a new registered lease deed should be entered into.
Section 109 of Transfer of property act should be referred to in such instances.
In the event of the tenants having registered lease deeds, then the lease deed gets automatically transferred to the new owner and the rights of the lessor and lessee shall continue unabated.
However a new registered lease deed is preferred for all practical purposes and should all parties agree a new registered lease deed should be entered into.
Section 109 of Transfer of property act should be referred to in such instances.
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Adv. Rajagopalan
Hyderabad | 500+ Answers
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