Anonymised property matter
Buying a property with tenants
- Transaction
- Purchase
- Jurisdiction
- NSW
- Focus
- Existing tenancy and possession
Situation
The client’s situation
A purchaser expected to move into a property soon after settlement, but the contract disclosed an existing tenancy. The agent suggested the tenant would probably leave, although no binding vacant-possession arrangement had been documented.
How Aquarius Lawyers helped
The legal response
We reviewed the lease, termination position, rent adjustments and contract wording, then clarified whether the sale was with vacant possession or subject to the tenancy. Where the client required occupation, we negotiated a contractual solution rather than relying on the agent’s expectation.
Documented outcome
The documented outcome
The client understood exactly what possession would be delivered at settlement and avoided buying an investment arrangement when they expected an immediately available home.
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