What does lessee have to do with return of premises?
At the termination of this Lease, LESSEE agrees to deliver to LESSOR the Premises and all mechanical systems and all equipment and fixtures thereon, in good working order and condition. Return of Premises.
What happens to the property after the expiry of the lease?
It is common knowledge that on expiry of a lease, it is the duty of the lessee to hand-over vacant and peaceful possession of the property to the lessor. The expression ‘holding over’ applies to cases where a lessee retains possession even after expiry of the initial lease term.
Can a lessee renew a lease after the expiration date?
The apex court held that where an original Lease Deed contains a clause for renewal, and the Parties do renew the lease in accordance with such clause, whether or not the lessee would be entitled for further successive renewals shall depend on the facts and circumstances unique to each case.
Can a lessee exercise the option of extension of lease?
Hence, the lessee’s exercise of its option of extension of lease would not hinge on obtaining the lessor’s assent.
When does lessee have to remove personal property from premises?
Lessee shall remove its personal property from the Premises at the expiration or prior termination of this Lease. Failure to comply with this paragraph will constitute holding over by Lessee.
When does a lessee retain possession of a property?
C. RETAINING POSSESSION OF PREMISES SUBSEQUENT TO DETERMINATION OF LEASE BY EFFLUX OF TIME – 1. Possession Retained by Lessee: Section 108 (q)8of the Act provides that, upon determination of a lease, the erstwhile lessee is obligated to put the lessor in possession of the property, even if there is no express covenant in the contract.
How long does a tenant have to give the landlord before vacating?
Tenant shall give Landlord thirty (30) days written notice prior to Tenant vacating the Premises, for the purpose of arranging a joint inspection of the Premises with respect to any obligation to be performed therein by Tenant including, without limitation, the necessity of any repair or restoration of the Premises.
What happens to personal property after the expiration of a lease?
Any personal property of Tenant not removed within ten (10) days following the expiration or earlier termination of the Lease shall be deemed to have been abandoned by Tenant and may, in accordance with applicable state and local law, be retained or disposed of by Landlord, as Landlord shall desire.