is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease

markymark

markymark

Arresto Menor

Posts : 24
Join date : 03/09/2011

A CONTRACT OF LEASE INVOLVING A LAND AND A BUILDING WAS ENTERED BETWEEN LESSOR AND LESSEE FOR A PERIOD OF TWENTY YEARS. A THIRD PARTY LATER INSTITUTED AN ACTION AGAINST THE LESSOR OVER OWNERSHIP OF THE PROPERTY SUBJECT OF THE LEASE.THE PROPERTY WAS AWARDED TO THE 3RD PARTY AND THE LESSOR WAS STRIP OF OWNERSHIP OVER IT. WHAT WILL HAPPEN TO THE LEASE AGREEMENT IF THERE STILL REMAINS 10 YEARS BEFORE THE CONTRACT ENDS. WILL THE CONTRACT BETWEEN THE LESSOR AND THE LESSEE BIND THE 3RD PARTY?

attyLLL

attyLLL

moderator

Posts : 21671
Join date : 12/04/2010
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what was the basis for 3rd party's claim over the property?

markymark

markymark

Arresto Menor

Posts : 24
Join date : 03/09/2011

actually lessor and the 3rd party are relatives.before the lease was executed,lessor was the one in possession of the property and the supposed owner which was relied upon by lessee.3rd party only became owner when the court decide ownership in his favor.tnx!

attyLLL

attyLLL

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Posts : 21671
Join date : 12/04/2010
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if 3rd party's basis of ownership is a transfer from lessor, like sale or donation, then clearly, they are bound by the lease if they knew of it before acquiring the property.

markymark

markymark

Arresto Menor

Posts : 24
Join date : 03/09/2011

tnx

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is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease

1 is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease Sat Jan 14, 2012 5:33 pm

markymark

2 Re: is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease Sat Jan 14, 2012 11:33 pm

attyLLL

3 Re: is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease Mon Jan 16, 2012 9:24 pm

markymark

4 Re: is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease Wed Jan 18, 2012 10:38 pm

attyLLL

5 Re: is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease Fri Jan 20, 2012 6:44 pm

markymark

6 Re: is the lease agrrement terminated when the lessor is later strip of ownership over property subject of the lease

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