Transfer of Property Act Lease

0
178

A lease of immovable property is a transfer of a right to enjoy such property, made for a certain time, expenses or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on specified occasions to the transfer by the transferee who accepts the transfer on such terms.

The transferor is called the lessor, the transferee is called the lessee, the price called the premium, and the money, share, service or other thing to be so rendered called the rent. (Section 105)

A lease of immovable property for agricultural or manufacturing purpose shall deemed to be a lease from year to year, terminable, on the part of either lessor or lessee, by six months’ notice and a lease of immovable property for any other purpose shall be deemed to be lease from month to month, terminable, on the part of either lessor or lessee, by fifteen days’ notice.

A lease of immovable property from year to year, or for any term exceeding year or reserving a yearly rent, can be made only by registered instrument.

All other leases of immovable property may be made either by a registered instrument or by oral agreement accompanied by delivery of possession.

Rights and liabilities of the lessor

  1. The lessor is bound to disclose to the lessee any material defect in the property
  2. The lessor is bound on the lessee’s request to put him in possession of property
  3. If the lessee pays the rent and performs the contracts binding on the lessee may hold the property during the time limited by the lease with interruption.

Rights and liabilities of the lessee

  1. Any material part of the property destroyed and permanently unfit for the purposes for which it was let by fire, tempests or flood, or violence of an army or of a mob, the lease shall, at the option of the lessee, be void:
  2. If the lessor neglects to make, within a reasonable time after notice, any repairs which he is bound to make to the property, the lessee may make the same himself, and deduct the expenses of such repairs with interest from the rent, or otherwise recover it from the lessor;
  3. Bound to pay, the premium or rent to the lessor or his agent in this behalf,
  4. May remove, at any time whilst he is in possession of the property leased all things which he has attached to the earth provided he leaves the property in the state in which he received it;
  5. Must not, without the lessor’s consent, erect on the property any permanent structure, except for agricultural purposes
  6. On the determination of the lease, the lessee is bound to put the lessor into possession of the property