April 5, 2010 at 11:32 am #55530
I have written into purchase contract Vacant Posession on Completion.This is because I know therer is a tenant there. I know the property is only 3 years old but not sure of the actual length it has been in force. I understand from the Agent that this is no problem. But he has asked me if I would like the tenant to stay on until November as I did not need it till them and I could have the money. I have replied by e-mail that vacant posssession MUST be given on completion. I take the view that I must take possession and actually sleep a night there -it occurs to me that even if I were to sign a new contract to the same tenant he might have the option to claim continuity of the old contract whatever it was. So do other members think I would do well to steer well clear please?
April 5, 2010 at 3:41 pm #97817
Ideally, you should find out what sort of rental contract the tenant has, as you would have to act accordingly depending on this.
In the event you can not find out the status of the rental of the property, you should ensure the vendor request to the tenant (it is not enough with the vendor statement) to renounce to his rights on completion, and simultaneously to sign a new rental contract protecting your interests properly.
However, our advice is to appoint a lawyer to assist you in this matter and ensure you are properly protected; otherwise, you could be facing serious problems.
April 5, 2010 at 6:00 pm #97819
Phew…Javier is so right. You could inherit a nightmare 😯 As someone who owned two investment apartments you just cannot turf them out. Spanish law favours the tenant (especially if they are spanish!). A friend who let out an apartment had tenants who did not pay the rent and later sub-letted, took them 9 months and a lot of money to get possession. You need a Lawyer 💡
April 5, 2010 at 8:23 pm #97822
THank-you very much -in particular the Professional one but katy too. I propose to put it in wriing to the solicitor acting for me to ensure a renunciation of any rights are obtained from the tenant. As I saw the flat in March it must be a contract of greater length than six months but possibly a cash in hand arrangement. An alternative that has occurred to me is to delay completion until November. I might simply be informed that the tenant has left and complete -maybe a friend- and when I go there before completion see that to be the case. So then I complete take possession -sleep there a few nights and change the locks ! I think sometimes by being too formal perhaps one might aggravate what is often amicable. I will appreciate any scathing comment ! Thanks again
April 5, 2010 at 8:37 pm #97824
I do know that in one case where one of our clients was buying a property with an existing tenant. The buyers lawyer requested for tenant to be present at notary to sign a document stating there was no conflict over the sale (right of first refusal) and then a new contract was drawn up to cover the remainder of the tenancy.
Tread with caution
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