Notice to Tenant That Property Has Been Sold Form provides a legal notice to convey to the tenant about the change of ownership of the property. This form does not intend to terminate the tenancy or amend it in any way.
However, by the acceptance of the notice, the tenant agrees to pay the rent to the new owner of the property. Moreover, this form requires signatures of the previous as well as the new owner in conformity with the message it conveys.
Notice to Tenant That Property Has Been Sold Form is simple to prepare. It requires inputs from the previous owner of the property. The previous owner or Landlord as referred to in the form signs and executes this notice to declare, that the property has been sold in good faith without amending and terms and conditions of the tenancy as well as payable rent. However, the previous landlord has to transfer the security deposit held to the new owner in the rightful manner.
Read before filing the Notice to the Tenant
- You must read the Notice fully to understand its nature and provisions.
- This form is not the right tool in case you (previous landlord) or the new landlord wants to revise rent or any other term and condition of the tenancy.
- Notarization of your and new owner’s signatures is not necessary for the acknowledgement.
- You and the new owner must sign the respective spaces on the form to declare that the property has been sold.
- The tenant must acknowledge the change and agree to pay the future rent to the new owner at the address mentioned in the form.
Begin by entering the date of preparation and execution of Tenant Notice. Then type the name and address of the tenant on the following lines. Provide property description and address on the next line. Enter these details as mentioned in the lease agreement.
Then enter the date of sale of the property and legal name of the new owner on the following lines. Mention the next due date of rent payment on the next line of notice to tenant that property has been sold.
Continue by providing the name and address of new owner or its authorized agent in the space provided for the same. The tenant must use this information for making future payments starting from aforementioned due date of the next rent payment. You as the landlord and the new owner must sign the respective lines to complete preparing Notice to Tenant That Property Has Been Sold Form.
Preview Notice to Tenant That Property Has Been Sold