Respected members,
The propety is owned by for e.g by Mr.qureshi who gives the said property on lease for 99 years to Mr Shaikh. The said lease will expire in 2050.
Mr. sheikh enters into tenancy agreement with tenant in 1980 with (for e.g) Fine & GlassPvt ltd.
By virtue of the aforesaid tenancy agreement the Fine & glass Ltd is the tenant and is partners(husband & wife become tenants) the rent receipt are issued by sheikh in the name of husband & wife.
However, after some time the husband dies, therefore wife makes power of attorney in favour of son to look after the said co & premises, rent, gives power to deal with the said tenancy.
By said power of attorney Sheikh issues rent receipt in wife & son's name.
now the son is entering into MOU with our client for X an amount. the premises is commercial.
Once the consideration is received by the tenant , the tenant, third party the tenant shall enter into assignment.
however, mr sheikh is not all aware about the transaction, after the consideration is received by the tson on behalf of mother , he will tell mr Sheikh to transfer the tenancy to our client on making transfer charges.
Even, we have come to know there is some dispute going on between Mr sheikh & some Mr Daman for the ownership. BUt the recent property card copy issued in november 2008 shows that Mr qureshi is the owner & the said property is on lease for 99 years with MR sheikh & the said lease expires in 2050
(1)Now how can i save my client who is the third party ?
(2) I have put the clause of secific performance in MOU will it be suffice to save my client interests who is third party?
(3) The deal to be entered is an commercial premises
(4) Our client is going to conduct some other business from the same premises but in order to not to show that the said property is not subletted , is it proper to show that the same business will be conducted on paper , both the tenant & our client has agreed for the same.
Thanx
Bindu
