Landlord is Selling a Tenanted Property
Posted By Balatidis Legal Services On 09-05-2020
Landlord is Selling a Tenanted Property If a landlord is selling a tenanted property they may do so as long as they are in compliance with the Residential Tenancies Act, 2006 (RTA). Once the tenanted property has been sold, the landlord must fill out the appropriate notice and serve it onto the tenants. The landlord must give the tenants 60 days-notice with the termination date being the last day of the rental period. The landlord may then immediately apply to the Landlord and Tenant Board (LTB) for a hearing date. At the hearing, the landlord will need to prove the following: • That the tenanted property has been sold and the deal is firm; • Confirmation by way of affidavit or declaration that the buyers will be living in the property; and • The compensation has been paid to the tenant.
The tenant may choose to move out before or on the termination date. However, they have the legal right to challenge the landlord’s application. At the hearing, the tenant may challenge the applications which may include challenging the validity of the notice to terminate the tenancy. For example, if there is an incorrect termination date or if the notice was not correctly filled out.The tenant may challenge the application by submitting evidence to the Landlord and Tenant Board that the purchaser will not be moving into the property. As mentioned, the buyers have to take possession of the property. The landlord must demonstrate this to the Landlord and Tenant Board. The tenant may question the intention of the buyers moving into the rental unit once the tenant vacates the unit. Whether you are a landlord or a tenant, it is important that you retain a legal representative to assist you . If you're a landlord, it is crucial that the notice is completed correctly as any fatal error may cause the application to be dismissed and force you to start over again. This may lead to the property not being vacant by the closing date as agreed to in the agreement of purchase of sale. If you are a tenant, it is important that you know your rights at the Landlord and Tenant Board. We believe affordable justice should be accessible to everyone. Trust the professional advice of Balatidis Legal Services; expert Landlord and Tenant Board paralegals servicing Mississauga, Brampton, Toronto, Oakville, Burlington and Hamilton.
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