Tenants & purchasers of tenanted properties take note
The Tenant’s Rights When You Sell Your House
One frequently receives queries with regard to a tenant’s position where the owner of the leased premises sells the property, mostly from tenants indicating that they were simply told to vacate before transfer.
The point of departure is however that in our law, a tenant is protected by the common law ‘huur gaat voor koop’ maxim. This means that the lease agreement will survive the sale and the new owner will effectively step into the shoes of and become the landlord on the same terms and conditions. The new owner will also be responsible to refund the tenant’s deposit, less any claim for damages that may exist. The Consumer Protection Act (CPA) may also impact on the rights of the landlord and tenant and it is advisable to consult with an attorney or property property professional when concluding a lease.
For any advice on leasing and sale of commercial property contact Safcom Properties. Our agents are equipped to provide advice and can assist you.