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Contract of lease

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1 Contract of lease on Sat Jul 06, 2013 3:29 pm

LiamMarcus


Arresto Menor
Can selling the property terminate the contract of lease? Waht are the rights of the leasee? Commercial property po ito..hospital.

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2 Re: Contract of lease on Sun Jul 07, 2013 3:00 pm

ibonidarna


Reclusion Perpetua
Considering that the property is no longer owned by the lessor, and if there is nothing in the deed of sale that the new owner will take over the lessor's obligation the new owner can take over the property. Your remedy is to sue the lessor for damages.

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3 Re: Contract of lease on Fri Jul 12, 2013 6:55 pm

LiamMarcus


Arresto Menor
What damages can be filed against the lessor? Are there any law or RA's i can read for this situation?

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4 Re: Contract of lease on Sat Jul 13, 2013 6:23 pm

Lunkan


Reclusion Perpetua
??? I have read selling DON'T have effects on lease contracts, the contract follow the property.
I did read it concerning long time leased LAND (for own house living or farming purpouses). Is that wrong? If it's wrong, it would be to easy to terminate lease contracts... Smile

But I have no idea if it's different law, when the lease is commersial buildings. When it's long time deals in such cases it's common to have a "get out of contract" paragraph in the contract, telling minimum terminating time and compensation if a part break the lease deal.

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5 Re: Contract of lease on Sun Jul 14, 2013 8:58 am

Good morning Liam,

Am not very sure if this will help you but you might find relevant info / direction
to your concern.

Check out the Realty Installment Buyers Act (Maceda Law) - a law protecting real estate investors paying their property on an installment basis.


This law comprised of 3 major categories:

The right to update payments without additional interest or in the alternative, a refund or cash surrender value.

The right to assign, reinstate contract

Right to advance payment without interest and annotation of full payment in the title subject of the sale




This law comprised of 3 major categories:
1. The right to update payments without additional interest or in the alternative, a refund or cash surrender value.
2. The right to assign, reinstate contract
3. Right to advance payment without interest and annotation of full payment in the title subject of the sale

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6 Re: Contract of lease Today at 2:51 pm

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