k1w1 wrote:I'm surprised an agent wouldn't know about it if it were standard practice and the law, but ok.
Don't be tooooooo surprised about that, we had one last week give us the wrong % of property tax to be paid as an owner/occupier.
k1w1 wrote:I'm surprised an agent wouldn't know about it if it were standard practice and the law, but ok.
I think, some agents just don't know these stuff. These "less-than-serious" ones are only interested in selling/renting it out to get commission. That said, I've also come across serious and good agents who know all these info with certainty. It's like general knowledge, whether one bothers to find out about it or not.ScoobyDoes wrote:
Don't be tooooooo surprised about that, we had one last week give us the wrong % of property tax to be paid as an owner/occupier.
I agree that the TA has to be transfered if the tenant so wishes but as my TA is with the current named LL this will have to be cancelled and a new TA drawn up with new owner as LL and signed for remainder of lease. Therefore I'll just say I don't want to sign new TA and will be vacating the apartment.sundaymorningstaple wrote:Saint, I'm not 100% positive, but I believe the current T&A is valid EVEN if the building/unit is sold. The new owner has to allow you to continue to remain to the end of your lease. The T&A survives the transfer of ownership as far as I know. Maybe somebody else can confirm this. There is a thread somewhere here regard this very thing but for the life of me I cannot find it at the moment.
For me its not that much as you can not legally force the tenant to sign the TA with the new owner. I read all these discussions but I am still not really convinced why the current TA with the previous owner should be invalid. The problems lays on the side of the old owner to fulfill his obligations and that's it. The new one can kick you out the apartment any time but the old one is responsible in such event and should provide you with compensation.Saint wrote:I agree that the TA has to be transfered if the tenant so wishes but as my TA is with the current named LL this will have to be cancelled and a new TA drawn up with new owner as LL and signed for remainder of lease. Therefore I'll just say I don't want to sign new TA and will be vacating the apartment.
I read earlier in the thread that someone didn't get a new contract drawn up with the new owners as LL but just continued with current TA. To me that's just a bit crazy!
TA will be transferred automatic.Saint wrote: I agree that the TA has to be transfered if the tenant so wishes but as my TA is with the current named LL this will have to be cancelled and a new TA drawn up with new owner as LL and signed for remainder of lease. Therefore I'll just say I don't want to sign new TA and will be vacating the apartment.
I read earlier in the thread that someone didn't get a new contract drawn up with the new owners as LL but just continued with current TA. To me that's just a bit crazy!
Well I'll be insisting for a new TA will the new owner's name on it. Why would you not want to get a new TA. The old one is an agreement between you and the previous named owner who will not be thw legal owner of the property.therat wrote:TA will be transferred automatic.Saint wrote: I agree that the TA has to be transfered if the tenant so wishes but as my TA is with the current named LL this will have to be cancelled and a new TA drawn up with new owner as LL and signed for remainder of lease. Therefore I'll just say I don't want to sign new TA and will be vacating the apartment.
I read earlier in the thread that someone didn't get a new contract drawn up with the new owners as LL but just continued with current TA. To me that's just a bit crazy!
No need to cancel existing TA and drawn a new TA with new LL name.
Don't need tenant agreement.
If the tenant terminate the TA before the contract end, then TA term and conditional will come in.
If I'm the buyer, I will check with my lawyer.Saint wrote: Well I'll be insisting for a new TA will the new owner's name on it. Why would you not want to get a new TA. The old one is an agreement between you and the previous named owner who will not be thw legal owner of the property.
Australia (Victoria) follows this system. You get these hotel chains refurbishing old office buildings in the CBD (eg Hotel Ibis), and then sell off all the rooms as studio apartments.x9200 wrote:Thanks brittanny for your usual care of the details and comprehensive overview. I have one question though:
How any clause in the TA between the tenant and the old landlord can effectively bond a third party which is the new landlord? It seem unreasonable.brittanny wrote: V. important: read your tenancy document and note whether there is an assignment/successors benefit clause. It is a very crucial term in a contract to bind the successor-in-title:
- if there is a provision then yes the new landlord is bound to observe/perform the contract
Have no option to sell for the landlord in you TA so he/she can not terminate the contract because of the sell. If the property is relatively new you may allow for enbloc sale.Girl_Next_Door wrote:My lease is expiring soon and I know my landlord is trying very hard to sell off the property (there are viewings every week for almost a month!).
Anyway, I would like to renew the lease but I would like to know what are the things I need to pay extra attention, in the new lease, in the event that the property is sold?
larsson wrote: That's why i want to know what can i do and what are my rights and the compensation the landlord has to bear for my case... coz it seems my agent is not really helpful at all. I hope someone could help me here...
Thank you.
I'm totally for having the TA transferred with the sale but what's the point of having a legal document that is factually incorrect? The funny things is that we'd already decided that we aren't going to renew in September so will be giving notice to current owner and ending TA with new owner!ScoobyDoes wrote:
So, Saint..... it's a case of live-by-the-sword die-by-the-sword. If we say on one side (like this case, and mine before) that the TA sticks regardless of what the MF landlord does, so should it work the other way round.
My TA and most of the other people's gets transferred with the sale of a unit without needing a new TA......i'm buggered if i'm going to pay another $2-300 in bl@@dy stamp duties.
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