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    Question

    Which of the following is true about the duration of

    leases under Chapter V of the Transfer of Property Act? 
    A Leases can only be made for a maximum of 5 years Correct Answer Incorrect Answer
    B Leases can be for a definite term, implied term, or perpetuity Correct Answer Incorrect Answer
    C Leases can only be made orally without documentation Correct Answer Incorrect Answer
    D Leases are automatically renewable every year Correct Answer Incorrect Answer
    E Leases cannot be transferred to third parties Correct Answer Incorrect Answer

    Solution

    Leases can be for a fixed term, an implied term, or even in perpetuity as per Section 105 and general principles of lease law.

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