Dear Client
Here are some steps you may consider taking to ensure complete documentation and address the registered lease deed issue:
Consult a Property Lawyer: Engage a qualified property lawyer in Gurugram who specializes in real estate transactions. They can review all the documents and advise you on the best course of action.
Obtain Tenant's Written Consent: As the seller claims that the lease was for income tax purposes and the property is vacant, it's important to obtain written consent from the tenant stating that they have no tenancy or other rights in the premises, and that possession has been returned to the seller. This can help establish that the lease is no longer in effect.
Tripartite Agreement: You may consider drafting a tripartite agreement among the buyer, seller, and tenant. This agreement should confirm the termination of the lease, the return of possession to the seller, and the tenant's acknowledgment that they have no ongoing rights in the property. While this agreement can be used for clarity, it may not override the registered lease deed in case of a dispute, so it's important to get the tenant's cooperation.
Registered Cancellation Deed: To provide greater legal certainty, you might want to explore the possibility of executing a registered cancellation deed for the earlier registered lease deed. This would effectively cancel the earlier lease and remove any legal encumbrances on the property. Consult with your lawyer on the specific requirements and process for registering such a deed in Haryana.
Title Insurance: Consider obtaining title insurance to protect yourself against any unforeseen title defects or disputes related to the property. Title insurance policies can provide coverage for legal costs and financial losses in case of title-related issues.
Due Diligence: Ensure that all other due diligence aspects of the property purchase are completed, such as verifying the seller's title, checking for any other encumbrances or liabilities on the property, and confirming that all necessary approvals and clearances are in place.