Legal Question in Landlord & Tenant Law in New Jersey
Property for sale
When drawing up a lease on a property we have for sale, what is the safest way to do it.
Do I put a clause that says, tenant may be given 30 days notice from the new owner on the day of closing?
Or 30 days notice from me before the day of closing? That last one seems risky because if it falls apart at the closing table I would have no tenants.
What is the safest way for a seller to state that while giving the tenant peace of mind?
Thank You
2 Answers from Attorneys
Re: Property for sale
The safest way is to consult with an attorney and have him or her draft it. It would likely run you less than $1,000; far less. How much are you selling your house for? Is it worth running a risk that you could lose that amount of money? In life, people who don't know how to do things easily hire others to do so. Why not in this case?
Not only do you need a lease, you also need an agreement of sale on the house. You need a real estate lawyer who can guide you through the process. Good luck! Rob Gleaner
Re: Property for sale
The safest way to draw any legal agreement is to work with your lawyer to do it.
You should consider the fact that most buyers will not close on a property with tenants in possession except if they are buying it as investment property.
See also: http://info.corbettlaw.net/lawguru.htm
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