Author - Pooja Thakkar
The COVID-19's Pandora's Box has left open several loose strands of ambiguity which require some tightening up, looking at the past reaction and anticipation of the possible future in various factions of life. One such faction already staring at the wall of uncertainty is the one of Real Estate. Shelter being only almost equal to food has been unabashedly neglected in the chaos created by COVID-19 all across the world by various governments, leaving the fate of the renters and landlords much to themselves and their negotiation acumen. Further, the reckless drafting of agreements and grey areas of the law has gotten several landlords and tenants to take things in their own hands and take action already.
That brings the rest to a conundrum who are left to ponder on questions like - whether the lessees and licensees can waive off or suspend their compensation/rent at such times? Till what extent would the law protect on such a situation and whom? Can the lease be terminated in such times? What weightage can be given to the clauses in the Agreements at such times? « Continue Reading »
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