The transfer of ownership to a new landlord does not terminate an existing Lease Contract. The tenant maintains the legal right to continue occupying the property under the same terms as the agreement signed with the previous owner. For this protect…
The transfer of ownership to a new landlord does not terminate an existing Lease Contract. The tenant maintains the legal right to continue occupying the property under the same terms as the agreement signed with the previous owner. For this protection to apply, the lease must have a fixed date. This provides market stability, ensuring that tenants are not displaced by investor sales and that new owners must honor existing contractual obligations until the lease expires.
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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