Thursday, October 03, 2013

Selling an apartment with a lease contract in force


In many forums over the Web, one question seems to appear over and over again: may an owner sell his/her property if a lease contract is in force in Buenos Aires, Argentina?

The answer to this question is: Yes. Now, what the owner can't do is to throw the tenant out of the apartment, since it would breach the lease contract. Still, if the tenant agrees to leave, an arrangement could be made, but it is generally not the case. So, unless the tenant agrees to it, the landlord cannot tell him/her to leave, and the tenant may stay until the lease ends.

So, those who want to sell his/her property with a lease contract in force, may deal with the new buyer of the property so that they agree to buy it and continue with the lease contract until it comes to an end, and he/she will also have to obey the terms and conditions of said lease. Once the buyer agrees to this, the sale of the apartment may be made.

Once the sale is done, the tenant should be notified of the new owner of the apartment, together with the changes relating to the payment of the rent (who the tenant will have to pay to, where, etc.)

So, if you are thinking of selling your apartment and there is a lease contract in force, you should first tell the buyer of these conditions so that he/she keeps complying with the contract, and then you should notify the tenant once the sale has been made. Still, if you have any doubts, you should ask a lawyer or a specialist who can give you some advice on the matter.