Buying and Selling Tenanted Properties the Legal Way
It can be difficult to sell a tenanted property. It’s even more difficult to guarantee vacant possession of that property when legally, the tenant controls possession.
Bita di Lisi, property manager, real estate broker, licensed paralegal, and owner of Stonegate Legal Services, sits down with TRREB Chief Market Analyst Jason Mercer to explain the options a landlord has when selling a tenanted property, plus with other legal details to keep buyers, sellers, and real estate agents on the right side of the law.
Their rich, informative conversation includes:
- Bita’s answer to one of the most common questions she gets from agents:“Can we evict the tenants to sell the property?”; - The three ways a tenancy can be terminated: by the tenant giving notice, by mutual agreement, or by way of a court or board order; - The difference between serving a tenant with an N11 or N12 form, and the need-to-know tip Bita gives sellers about using the N11; - What buyers of tenanted properties should see on the Statement of Adjustments on closing; and - A cautionary tale for real estate agents and landlords about how asking for too much from prospective tenants landed one brokerage with a human rights complaint.
Tune in to discover how to navigate the legal complexities of tenanted properties.
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Tony Slavin

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