Firstly thanks for this forum, where in, common man like me are getting to know so much about the law, which, at no other place, we can get to know so clearly and easily apart from this forum.
I have a land and a third party is approaching me to rent the land for them to build a Fuel station. They're saying they need the land for a minimum period of 20 years with a rental increase of 10% every 3 years. After 20 years, based on owner's (my) decision, they will either hand over the land back or continue the station.
Coming to my questions,
1) IS it safe to hand over the property to them for 20 years? Will there by any legal issues when I ask them the land after 20 years?
2) What kind of agreement we both have to enter into? Can you help me with a sample agreement if any?
3) What are the points that I might have to include in the agreement, so that, I get the upper hand after 20 years?
4) They are also saying that, once I hand over the land, they will be investing a huge amount for creating the fuel station. If that is the case, will there be a possibility for them to raise a concern that " we have invested so much and we wated to continue the fuel station" even after 20 years?
Please help with your expertise as this is one of the Major decision that I need to take in my life as the agreement is for 20 years, which is like 30-40% of one's life on an average!