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Transfer of leasehold rights by tenants

(Querist) 09 January 2009 This query is : Resolved 
Agri.Land given on permanent lease(99years)for a
sum of Rs.400/-p.a.as land rent.Tenant given permission to use for nonagri.purposes.An industry was established on this land by "X "co.This company went into liquidation,the HC appointed a liquidator who tansferred the leasehold rights on the land under the same conditions to another co."Y",which continued to use the land for ind.purpose.,paying the same rent.After about 40 years,this company
sold all its assets including the land under leaseto Z",without the knowledge of owner.The deed says it is a sale of leasehold rights on the land.

Can the tenant sell leasehold rights or the land in this manner?

Whether the owner is eleigible for a share in the sale proceeds,if he does not wish to continue the lease?

Whether the owner can raise the lease amount or enter into a fresh lease agreement with new incumbents legally?

Does the owner loose his right to this property?
KAMARAJ BHARATHY G (Expert) 09 January 2009
first of all we have to read the lease agreement. If there is any clause against the present action the land lord can file a suit for liquidate the lease agreement
G. ARAVINTHAN (Expert) 09 January 2009
If there is such a clause in Agreement, then that particular clause in that Agreement is definitely a void one


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