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Can a tenant legally vacate flat before lock-in if he is forfeiting entire deposit

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Can a tenant legally vacate flat before lock-in if he is forfeiting entire deposit

Last updated: July 5 2020
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  • Can a tenant legally vacate flat before lock-in if he is forfeiting entire deposit

    If a tenant wants to vacate the flat 2 months before lock-in is over, but willing to forfeit entire deposit amount then will he face legal consequences? Will it be crminal in nature? My agreement clause reads that they can serve 30 day notice only after end of lock-in period. So I will get 3 month rent.
    The deposit amount is 2.75 times the monthly rent amount. He is saying he will forfeit whole amount but vacate now


    Also, the contract clearly states that deposit cannot be considered as monthly rent at any time. Further, it reads:

    In case the LICENSEES vacates the premises before the completion of such mandatory Lock-In Period, the LICENSEES shall pay compensation to the LICENSORS for the balance lock in period plus one month notice period and In the same way if the Licensors asks LICENSEES to vacate the premises before the Mandatory Lock in period the Licensors shall pay the compensation to the LICENSEES. Further, only after the expiry of the Mandatory Lock-In Period the LICENSEES may serve a 30-day notice in writing to the LICENSORS stating that he/she wishes to terminate the agreement





    Last edited July 2 2020, 06:57 PM.
  • #2

    #2

    Re : Can a tenant legally vacate flat before lock-in if he is forfeiting entire deposit

    Originally posted by anshumishra15 View Post
    If a tenant wants to vacate the flat 2 months before lock-in is over, but willing to forfeit entire deposit amount then will he face legal consequences? Will it be crminal in nature?

    Can I as owner slap legal charge for breaking the contract?

    The deposit amount is 2.75 times the monthly rent amount. He is saying he will forfeit whole amount but vacate now
    What does your contract say on tenant vacating of flat before lock-in is over?
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    • anshumishra15
      anshumishra15 commented
      Editing a comment
      The said Refundable security

      3

      deposit may not be treated by the LICENSEES at any time as a substitute for the monthly
      compensation due. The said Refundable security deposit shall remain deposited with the
      LICENSORS for the entire duration of this Agreement and shall be refunded without interest
      by the LICENSORS to the LICENSEES upon the early termination / completion of this
      Agreement, or one month notice after the lock in period whichever is first, after deducting
      any claims or damages to the property or furniture and fixtures that may have arisen under
      this Agreement.

    • MANOJa
      MANOJa commented
      Editing a comment
      What I can understand is that the contract is not clear on what happens if the tenant breaks the lock-in term.

      What is your issue if the tenant is vacating 2 months before lock-in is over and paying you 2.75 months rent.
  • #3

    #3

    Re : Can a tenant legally vacate flat before lock-in if he is forfeiting entire deposit

    Originally posted by anshumishra15 View Post
    If a tenant wants to vacate the flat 2 months before lock-in is over, but willing to forfeit entire deposit amount then will he face legal consequences? Will it be crminal in nature? My agreement clause reads that they can serve 30 day notice only after end of lock-in period. So I will get 3 month rent.
    The deposit amount is 2.75 times the monthly rent amount. He is saying he will forfeit whole amount but vacate now


    Also, the contract clearly states that deposit cannot be considered as monthly rent at any time. Further, it reads:

    In case the LICENSEES vacates the premises before the completion of such mandatory Lock-In Period, the LICENSEES shall pay compensation to the LICENSORS for the balance lock in period plus one month notice period and In the same way if the Licensors asks LICENSEES to vacate the premises before the Mandatory Lock in period the Licensors shall pay the compensation to the LICENSEES. Further, only after the expiry of the Mandatory Lock-In Period the LICENSEES may serve a 30-day notice in writing to the LICENSORS stating that he/she wishes to terminate the agreement




    Please note that this thread has been moved to the appropriate subforum.
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