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Home / Legal / What is holding over under transfer of property act?
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What is holding over under transfer of property act?

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1 2022-09-02T10:52:59+00:00
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While renting a property to a tenant, a landlord signs a real estate agreement which comprises several clauses on the agreement. Among them, the agreement also constitutes the contract with the tenant which is known as a “holdover clause”. Let me take you through

holding over meaning in detail here.

 

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  • The holdover tenant clause, also known as the holdover rent clause, is one of the most significant terms which is critical for both landlord and tenants. 

  • It prohibits the landlord from re-letting the space while increasing the amount of rent a tenant pays.

  • Holding over lease

    is commonly found to safeguard the brokerage. 

  • It basically specifies that once the broker and client split ways, the client must pay the previously agreed-upon commission in a very specific condition and within a specific period. 

 

According to

Section 116 of the Transfer of Property Act 1882

, the following conditions would result in tenancy with

holdover clause

:

  • After the lease granted to the lessee is determined, the lessee or under-lessee of the property retains possession.

  • The lessor or his legal representative either accepts rent from the lessee or under-lessee or agrees to the lessee or under-lessee’s continued possession. 

  • There isn’t any agreement to the contrary. In such circumstances, the lease is renewed on an annual or monthly basis, depending on the purpose for which the property is rented. 

  • Assume A rents out a house to B for five years. B rents out the house to C for Rs 5,000 per month. The five-year lease expires, but C keeps the house and pays the rent to A. As a result, C’s lease is renewed on a month-to-month basis. Assume A rents out his house to B for the duration of C’s life. C dies, but B retains possession with A’s permission. B’s lease is renewed on an annual basis.

I hope you are clar about

holding over meaning now.

Read more:

What are the tenant rights after ten years in India

What are the tenants rights in India

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