Lease period - in trouble
Srinivasan
(Querist) 08 July 2011
This query is : Resolved
Dear Experts,
I’ve taken a house on lease for 2 years. I’ve given a deposit of Rs.4,00,000/- fully refundable upon leaving the home and no rental need to be paid. The home owner has availed a home loan from Andhra bank which was not informed to me at the time of entering into the agreement. He has not paid the 4 emi and the Andhra bank came to my home and said they may auction the home. Will i be troubled. Kindly help.
prabhakar singh
(Expert) 09 July 2011
it seems so,but you need not worry if your lease is registered.Besides you have right to bid in auction proceedings and buy the house,and can claim back the amount of Rs. 4,00,000/-paid to your land lord,provided you have proof of payment.
Srinivasan
(Querist) 09 July 2011
Dear Experts, Thanks for the reply.
Chanchal Nag Chowdhury
(Expert) 09 July 2011
It depends as to whether the loan or your induction was earlier in point of time.
RAJU O.F.,
(Expert) 11 July 2011
Contact the bank can find out as to whether proceedings taken by bank under SARFAESI Act. If symbolic possession is taken by the bank, immediately file a Securitisation Appeal before jurisdiction Debts Recovery Tribunal for remedy. Your tenancy would be protected till the expiry of the lease period. If property is sold by bank and the sale value is sufficient to cover the bank dues and your deposit amount, then you have the chance to get back your deposit amount from the bank.
M V Gupta
(Expert) 11 July 2011
If your's is registered lease any sale effected by the bank will be subject to your tenancy and the terms governing the lease. If the lease deed is not registered, still it may be considered as month to month tenancy subject to which the auction purchaser will take the property. In order to protect your rights pl issue a legal notice to the Bank about your tenancy and the conditions thereof.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 11 July 2011
do not worry , tenants are protected under all state laws.
Even if the lender mores under the draconian SARFAESI act , you cam still go to the local civil court.
In a similar case in kolcutta even after a reciever was appoined by DRT we got stay for eviction from local court.It will take life time for the opponent to get this stay vccated.
