what is meaning of tenancy right ?
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 30 March 2010
"The essence of a tenancy is the right to possess and occupy land belonging to another.
"The relationship of landlord and tenant is created by a contract expressed or implied, by which one person who is possessed with an interest in real property, and who is called the landlord or lessor, confers on another person, called the tenant or lessee, the right to exclusive possession of the real property or some part of it for a period of time which is definite or can be made definite by either party, usually in consideration of a periodical payment of rent either in money or its equivalent. "
regards,
ratan
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