I'll reply to your query in due course with legal provisions of rent act
Prima facie your parents are statutory protected tenants under rent act
definition of tenant as provided in the rent act alongwith the explanation to it are germane for your query. The relevant portion is in bold below:
(15) "tenant" means any person by whom or on whose account rent is payable for any premises and includes,--
(a) such person,--
(i) who is a tenant, or
(ii) who is a deemed tenant, or
(iii) who is a sub-tenant as permitted under a contract or by the permission or consent of the landlord, or
(iv) who has derived title under a tenant, or
(v) to whom interest in premises has been assigned or transferred as permitted,by virtue of, or under the provisions of, any of the repealed Acts;
(b) a person who is deemed to be a tenant under section 25;
(c) a person to whom interest in premises has been assigned or transferred as permitted under section 26;
(d) in relation to any premises, when the tenant dies, whether the death occured before or after the commencement of this Act, any member of the tenant's family, who, --
(i) where they are let for residence, is residing, or
(ii) where they are let for education, business, trade or storage, is using the premises for any such purpose,
with the tenant at the time of his death, or, in the absence of such member, any heir of the deceased tenant, as may be decided, in the absence of agreement, by the court.
Explanation.--The provisions of this clause for transmission of tenancy shall not be restricted to the death of the original tenant, but shall apply even on the death of any subsequent tenant, who becomes tenant under these provisions on the death of the last preceding tenant.
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so you are the 4th generation
your father's maternal grandmother was the original tenant
at the time of her death your dad's parents and your dad alongwith his siblings were residing in the premises
so these people being the family members of the deceased tenant would become 'joint tenants' of the premises
subsequently your father's siblings shifted elsewhere and your father's parents also died leaving you and your parents who would be entitled to succeed to the tenancy considering the definition of tenant and explanation thereto as reproduced above and contained in s.7(15)(d) of the rent act
so your parents and you are the statutory joint tenants of the premises
the rent act vide s.31(2) mandates the landlord to issue the rent receipt in the name of the family member who succeeds to the tenancy upon demise of the original tenant.
MAHARASHTRA RENT CONTROL ACT, 1999 Section 31 - Giving receipt for any amount received compulsory
(2) Every landlord shall, without charging any consideration, issue the rent receipt in respect of the premises let out to the deceased tenant in the name of the family member referred to in sub-clause (d) of clause (15) of section 7.
thus s.31(2) makes it abundantly clear that the landlord must issue the rent receipt in the name of the family member [in your case in the joint names of your parents and yourself] WITHOUT CHARGING ANY CONSIDERATION
however a closer scrutiny of the definition of tenant as reproduced above would show that only 'one' family member can succeed to the tenancy right on the death of original tenant, since the definition uses the word 'family member' which is in singular
also in case it is mutually decided between your parents and you that the rent receipt be issued in the name of your father [one of the family members] and this is intimated to the landlord. However the landlord may not want to recognise your father as the successor tenant. Thus going back to the definition of tenant again, in absence of any agreement as to who should be recognised as the successor tenant, the said question would then be decided by the Court
however if your landlord is ok to issue the rent receipt in the joint names of your parents and yourself, then nothing further is required to be done.
generally in such cases the landlords do charge some lump sum towards 'blood relation transfer fee' which is obviously less than the 33% transfer fee that is charged in case of a transfer of tenancy to a third unrelated party
i understand that approaching the landlord for a name transfer may open the pandora's box and he may demand some unreasonable sum
in that case you can show him the provision under s.31(2) and tell him that under the law no consideration can be charged by the landlord to issue rent receipt in favour of the family member who would succeed to the tenancy, but nevertheless you people have come to him and so he must consider some reasonable amount and transfer the rent receipt to any person among your parents or yourself or any combination or in name of a single family member
so it all depends how well you negotiate with the landlord
and if you do not want to do the above exercise then you can just let things be as they are since in any event under the rent act you have statutory protection
effecting a transfer would only be for shutting out any unnecessary claims from other relations of the original deceased tenant
hope above clarifies your doubt