Conveyance of private land (not a society)

Querist : Anonymous (Querist) 02 September 2023 This query is : Resolved
Hello Experts,
We stay in a property which was bought in lease of 99 years by our late grandfather in Mumbai Suburban area.
The property was bought in 1959. The property card has our grandfather's name as the lessee along with the name of the lessor.
Can this property be applied for conveyance or is eligible for deemed conveyance like it is for housing society's?
If yes, please guide us through the process.

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T. Kalaiselvan, Advocate (Expert) 03 September 2023
The lease agreement is valid for a period of 99 years, after which the property reverts back to the lessor (the owner of the property). Rights and Responsibilities: The lessee has certain rights over the property during the lease period, including the right to use, occupy, and transfer the lease to another party.
However, there may be situations where the original lessee, for various reasons, decides to transfer or assign their leasehold rights to another party for consideration. This can occur when the lessee wants to exit the lease, restructure their business operations, or transfer the lease to a new owner.
In a lease, right of possession is transferred instead of the right of ownership. Transferor here is called the lessor and the transferee i.e. the one enjoying the property for a period is called lessee. Lease is governed by the Transfer of Property Act, 1882 and it is given from Sections 105 to 117.