Lease query

Hi,

We have a property in Kolkatta and have given a 99 Years Lease of the same to one of the party in the city. Would this 99 Years Lease will be considered as SALE in the legal terms? If not then what will be the legal status of this transaction?

If we are transferring any property on a long terms lease, how this will be called in the Legal term? Will this be a LEASE or SALE in the Legal eyes?

Regards

Rimpal Johal

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1 Replies

adv.raghavan (Advocate,9444674980) 14 February 2014

It will be considered as LEASE ONLY, it wont be considered as SALES. let the tenant be there for 100 years in the eyes of law he will be considered as tenant only and not a owner,but the lease has to be registered, so do not worry.