Leased residential house amount
We are staying in a leased out residential house from a year now. The lease period is for 3 years we have paid 9lakhs. Now the owner who has taken loan with the bank is unable/behind in paying his instalment the bank has already served notices many times. We were unaware of this when we leased the house. Now what will be our position after 2 yrs or earlier if he cannot pay the bank. Will we loose 9lakhs of our hard earned money? Please advice us as to how we can get our money back
Asked in Property Law from Bangalore, Karnataka
since you have entered into lease agreement for 3 years you can only be evicted after expiry of lease period.
if owner cannot repay the bank then bank will take recovery proceedings against defaulter
. if you have paid any security deposit and lessor fails to return the same you can file summary suit against the lessor for return of security deposit .on expiry of the lease period . contact a local lawyer
Hi, you have to better to approach DRT and file a application contending that you have entered into lease agreement for a period of 3 years until then you will not dispossess so as to seek stay in the DRT.