When the ownership of a jointly owned property is transferred to a new owner, it does not affect the tenant's right to continue occupying the property. The new owner is legally required to honor the Lease Contract entered into by the previous owner.…
When the ownership of a jointly owned property is transferred to a new owner, it does not affect the tenant's right to continue occupying the property. The new owner is legally required to honor the Lease Contract entered into by the previous owner. For this protection to apply, the Lease Contract must have a fixed date. this ensures that tenants are not unfairly evicted during their lease term simply because the property was sold, providing stability for residents and commercial businesses in jointly owned buildings.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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