Tenants in a Real Estate Transaction, Before engaging in a property sale, it’s crucial to be well-informed about the presence of tenants or squatters inside. Here are some essential tips:
1. Demystifying the Sale:
The sale doesn’t automatically grant the right to evict tenants or squatters. Understanding this distinction is key.
2. Accurate Classification:
Distinguishing between tenants, owners, spouses, or squatters is essential. Each figure implies different rights and obligations.
3. Review of Lease Agreement: Tenants in a Real Estate Transaction
The existence or absence of a lease agreement doesn’t automatically determine squatter status. It’s vital to carefully examine each case.
4. Fulfillment of Obligations:
Verify if contractual obligations are being met, from timely rent payments to compliance with community regulations.
5. Waiver of Preferential Acquisition Right: Tenants in a Real Estate Transaction
If there’s a waiver in the lease agreement to the preferential right, the tenant loses the ability to match offers in case of sale but retains their rights.
6. Specialized Legal Advice:
With the new Housing Law and Urban Leases Law, it’s essential to have lawyers specialized in real estate law. We defend property owners in the best possible way, considering every detail.
CAUTION! Let’s avoid terms that may confuse us with real estate agencies. We are “realestatelaw,” not just “realestate,” emphasizing our role as lawyers specialized in real estate transactions.
Today: We celebrate having helped two families sell and buy properties with tenants, ensuring homes are delivered free of occupants.
