Lease plz helpp urgent.
gaurav
(Querist) 19 August 2014
This query is : Resolved
unfortunately my father have passed away.
when he was alive he said that he had taken the on lease around 30 years back. he said that he was paying rs 200 rent per month to the landlord.
we still are paying the rent rs 200 per month rent now after his death and we have the receipt of rs 200 rent from the landlord THATS ALL I KNOW ABOUT OUR SHOP.
now we are in urgent need of money.we want to sell the shop at current market value but the landlord( "makaan mallik" in hindi) is asking for 50% of the sale proceed to tranfer the name to a new owner.
WE DONT KNOW WHY HE IS ASKING 50% , WE DONT HAVE ANY LEASE AGRREMENT WITH US EXCEPT THE RENT RECEIPT.
WHY IS HE ASKING 50% OF THE SALE PROCEEDS ??
WHAT IS THE LAGALITY ??
WHAT KIND OF AGREEMNT HAD MY FATHER ENTERED INTO ??
WHAT PROOF WILL BE SUFFICIENT TO DETERMINE OUR OWNERSHIP.
kindly help me out what should we do and what is the legal status
ajay sethi
(Expert) 19 August 2014
generally landlord takes around 33%^in case you want transfer of shop in name of new buyer. bargain with landlord to reduce rate .
your father was tenant of the shop . the fact that rent receipts have been issued by landlord in your father name indicates your father was tenant of shop
gaurav
(Querist) 19 August 2014
but sir under what lqaw and section are they asking for such amount??
and now he is asking 50% ok . but later suppose can landlord refuse to trasfer the property means the landlord says i do not want any money neither i will let the tennant to sell the property.
which law governs them and will landlords signature be required ??
Hemant Agarwal
(Expert) 20 August 2014
for "gaurav":
1. Firstly under what which law (whichsoever) do you derive ANY right to sell any property in which you do not have any Title-Ownership.
2. The title-ownership of the property is in the name of the Land-Lord, who has just simply rented the property to you for a rent of Rs. 200/-, consequent to which you derive the right to use and reside in the property belonging to the land-lord. NOTHING ELSE. PERIOD.
Keep Smiling .... Hemant Agarwal
READ ARTICLES ON: http://hemantagarwal21.blogspot.in/?view=sidebar
gaurav
(Querist) 21 August 2014
sir there is a diff bw FINANCIAL LEASE AND OPERATING LEASE.
in the former the title passes but in the latter the tittle will not paass on the the leasee.
aalthough i am givig the landlord rent but he is asking for 50% of sale proceedds which means that i have a say in the property.
also ajay sethi sir has confirmed it to be 33.33 %
T. Kalaiselvan, Advocate
(Expert) 24 August 2014
I don't understand the logic of a tenant selling the property of his landlord and refusing to pay the land lord. How is the tenant deriving a right to sell the property?
