landlord buyback goodwill & business from tenant
Querist :
Anonymous
(Querist) 20 March 2010
This query is : Resolved
I am a tenant running hotel since 2000. For first 5years the business was in the name of landlord. From 2006 the landlord offered to sell the hotel Business goodwill, furniture’s & movable amenities. So I Bought all these from the landlord At market price valued of year 2000,through legal agreement Deed.
Landlord also renew the lease for future 7 years., till 2012.
Will the business goodwill, furniture’s & movable amenities which I bought from the landlord, At market price valued at year 2000, legally fetch me any advantage, if my landlord wants me to vacate after the lease period. Can I legally tell my landlord to buy back my hotel Business goodwill, furniture’s & movable amenities At market price valued at year 2012.Because its connected to this hotel property. If he refuses to buy, do I legally have rights to sell, all hotel Business goodwill, furniture’s & movable amenities to someone else.(outsider)
ARE GOODWILL,BUSINESS WHICH I BOUGHT FROM LANDLORD CONNECTED TO THE THIS HOTEL property.
Is the following lines in the my agreement favorable to me to me or not.
(with the option to the tenant to renew the agreement for further period on such terms & condition as may be mutually agreed upon.)
Raj Kumar Makkad
(Expert) 20 March 2010
You have been provided an option even for future also to get your agreement renewed at your option and now come to you main question. You are legally entitled to sell all he movables and immovable properties of your tenanted hotel at the time of expiry of your lease to any person including the lessor (owner) of hotel. Goodwill remains attached with the business.
