Renewal clause on the lease agreement
I have leased my land for indian oil corporation for a term of 20 years from 1996 to 2016. in the lease agreement made on 1996, it was mention that lease renewable & determinable for further 20 years on mutual agreed. Now as a land owner, i want to use the land for personal use.
1) Do i have a option to say no to indian oil corporation after the expiry of the original lease on 2016?
please advice me on this regards.
Asked in Property Law from Coimbatore, Tamil Nadu
2) lease can be renewed only with mutual consent of parties
2) you can refuse to renew lease and ask lessee to vacate premises on expiry of lease period
First of all, thank you so much for your time and valuable answer. do I have any law or case relevant to back up my subject matter in the court of law because it seem Indian oil corporation has send a letter quating that renewal is compulsory since it was mention in the lease agreement made on 1996.
thanks once again for your time
Asked 1 year ago
1) wordings of lease deed are clear mutually agreed by parties
2)no such clause that it is mandatory to renew agreement
3) Issue notice asking lessee to vacate premises on expiry of lease period
The clause mentioned in the lease agreement is very clear that renewal can be done only on mutual agreement and it is not a unilateral decision. This is the law as per your terms of agreement.
If the IOC is not vacating after the expiration of the original terms or lease period, you may issue a legal notice to vacate on the same grounds, if they do not oblige, you may approach court for eviction.
You need not bother about the settled judgment so soon, if it may be required at the conclusion of case, you may get them.
1. You have the right to refuse to renew the lease. Unless you renew the lease the lessee will have to vacate the property.
2. If a legal notice has been issued to you by IOC then put it up to your lawyer for an appropriate reply.
The lease deed of 1996 would be having a clause about the renewing the lease on Mutually agreed terms, as you are not willing to renew the lease as you want to use the property for self , send Indian oil a legal notice for termination of lease and handing over the peaceful and vacant possession of the property to you by a a said date.The reply as mentioned above as received from IOC shows malified intentions of IOC of not vacating your property.Hence be prepared to file a suit for possession and permanent injunction.