Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Tushar Chaudhary   04 July 2020

What happens if a leased property is sold to another owner during the lease time?

What happens if a leased property is sold to other owner during the lease time period by other Co owner of the property who have right to sale the property ?

and what If lease holder sue leasee, other Co owner and the new buyer of property

the other Co owner who have right to sale the property will make a registry before first date of the court case

who is liable here or is the registry got cancelled


Learning

 3 Replies

Sunayana Chhabra   04 July 2020

The new owner becomes the lessor of the lessee and have same rights and obligations which the previous owner had against the lessee. It makes no difference if the property is sold during court case.
2 Like

sribhusan sukla (Free Legal Consultations)     04 July 2020

Since it is a lease property, the terms and conditions of lease will govern the field. If lessee has no right to sell, he can only sale with permission of sellor, or else, as per terms of lease, any such transfer by lessor becomes voidable.

2 Like

Tushar Chaudhary   05 July 2020

the leasee has only a right to apply for meter and the leasee has to pay 4000 yearly rent to lessor

but the property belongs to third person who is not a lessor

Now leasee file a case to Third person who is the actual owner of the property to stop selling his property

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register