Have you received this land in govt. aid ?
Sale deed with Perpetuity clause is void. You have absolute right to alienate property in any manner.
I have a deed of sale of a land in Perpetuity made in the year 1977. what does that imply
Have you received this land in govt. aid ?
Sale deed with Perpetuity clause is void. You have absolute right to alienate property in any manner.
Hi, that is the Sale Deed executed to you in respect of the property. The property will be transferred by virtue of the Sale Deed.
It is basic rule ofTransfer of Propertythat one must enjoy the property absolutely during his lifetime.
One cannot be deprivedof his right of enjoyment in respect of the property as he like in his lifetime. The policy of the law has been to prevent property from being tied up forever. Perpetuity is an interest, which will not vest tilla remote period. One cannot postpone the vesting of the property in the transferee beyond a certain limit. The period for which vesting may be lawfully postponed is called : "perpetuity period".
Dear Client,
This land shall forever continue to remain within a family till eternity, and deprive all others from enjoying its benefits and impedes free and active circulation of property both for purposes of trade and commerce, as well as betterment of the property itself, even the owner himself is denied the right to dispose it for higher value or to tide away difficult times. Similarly, the state is divested from earning revenue, which is only possible if property can change hands frequently.The Transfer of Property Act, 1882 has provision for ‘Rule against perpetuity’. Hence, such a transfer is not allowed under the Act unless the transfer is in favor of public viz. advancement of religion, knowledge, commerce, health, safety or any other object beneficial to mankind, does not apply to personal agreements that do not create interest in property,renewal of lease agreements, covenant for redemption of property under mortgage, charge created over property, as this does not amount to transfer of interest and contract of pre-emption.
Thanks & Regards
A perpetual lease deed or a deed of lease for a term in perpetuity, is essentially a lease deed in which no specified time period as to when such lease deed should be terminated is mentioned. Whether an agreement/contract is in perpetuity or not, depends upon the conditions mentioned in such agreement/deed/contract.
Perpetual lease is a regular lease except for one aspect - the right of renewal rests with lessee( the individual who has taken the lease) and not with the lessor. Leasehold Property cannot be sold .
The sale cannot be perpetual, it could be a perpetual lease agreement, you may go through the contents of the deed or produce the same before an experienced lawyer ion the local and get an opinion.