Legal Question in Real Estate Law in Virginia

My question concerns buying a home that's currently being used as investment property which happens to be occupied by a tenant.

Does the Residential Real Estate Sales Contract need to mention anything about how the current tenant will be and/or should be dealt with? Since the tenant has a lease agreement in place the agreement, is it correct to say that the lease term has to be honored?

Oh, & a side question about the sales contract. Is my social security number mandatory on that form if I'm using a 3rd party lender (i.e., bank)? Obviously my SSN is sensitive & there's no provision for safeguarding private information or consequences for illegal use in the VA contract.


Asked on 9/07/09, 2:32 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Yes, the contract should indicate that the buyer will honor and be bound by any lease currently in effect at the time of the sale.

Refuse to provide your SSN and let someone else raise the issue as to its absence on the contract(and explain its necessity to the transaction under the particular circumstances involved).

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Answered on 9/12/09, 10:20 am


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