Transfer of landed property
I have possessed a piece of land(60 x 40 ft) taken on lease from Odisha Government. I want to transfer the land to my three son-in-laws jointly so that they can construct three flats for their living in future. I want to know whether this transfer will be legally valid and whether they can get loan from banks citing that they are co-owners of the land.
Sarat Kumar Mohanty
e-mail address ... firstname.lastname@example.org
Asked in Property Law from Bhubaneswar, Odisha
read terms and conditions of lease . for transfer of lease hold land you would need consent of lessor . . do not create any third party rights without obtaining prior consent . it would be ground for termination of lease
Whether or not the land can be transferred shall have to be decided with reference to the terms and conditions of the lease. Unless and until the lease specifically or impliedly allows the transfer of land it is impermissible for you to transfer the same to any one. Transfer of land in contravention of the lease will result in termination of lease.