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Matt Jones
Matt Jones, Solicitor
Category: Property Law
Satisfied Customers: 671
Experience:  I am a qualified and practicing Solicitor with over 7 years post qualification experience
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I am selling a tenanted property. What are my legal obligations

Resolved Question:

I am selling a tenanted property. What are my legal obligations with respect to the tenancy?
1. I have given my tenant, who has an AST agreement, a valid Section 21 notice, which expires after the last day of the tenancy, and this would probably coincide with a likely completion date, or be shortly before completion.
2. I have a cash buyer, and no chain on my side, and the buyer is keen to keep the tenant on.
What are the requirements for transferring the tenancy to the new owner? Does the tenant simply sign an agreement with me to end the tenancy early (if needed) and sign a new agreement with the new owner starting on the same day?
Submitted: 2 years ago.
Category: Property Law
Expert:  Matt Jones replied 2 years ago.
Hi I will try and help
Expert:  Matt Jones replied 2 years ago.
Does the tenant wish to stay in the property after you sell?
Customer: replied 2 years ago.
Yes the tenant is very keen to stay on. The buyer is cruelly an acquaintance of the tenant.
Expert:  Matt Jones replied 2 years ago.
ok. Well it is really down the Buyer to decide what you want to do with the tenant. At the moment the s21 notice (assuming correctly drafted and served) bring the tenant to an end, but unless you get a court order the tenant can remain. So you can leave things as they are and the new buyer will simply take the tenant on a periodic tenant that has expired by way of a s21 notice but after completion the new tenant and landlord can set up a new tenancy. Alternatively you can start a new tenancy agreement now, and once you have sold the tenancy will automatically transfer over to the new owner
Customer: replied 2 years ago.
Ok. Are there any specific requirements for ending the tenancy before te section 21 expires, if for example we complete a few weeks before the expiration? Both tenant and buyer would be happy to sign new agreements at any time once sale is completed
Expert:  Matt Jones replied 2 years ago.
No. a new tenancy can begin at any point. The new tenancy agreement has the effect of ending the old one.
Expert:  Matt Jones replied 2 years ago.
Does this help? I hope so. If you have further questions please ask. Otherwise please leave me positive feedback. the question wont close and if you think of further questions on this topic down the line you can always ask later one
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