If the property you檙e renting was sold because of a foreclosure,you will likely have to move,but you don have to go right away. If you have a lease,you can stay until your lease ends (unless the buyer wants to move in,in which case,you檒l need to leave in 90 days.)
People also ask
What happens to my rent if my landlord sells the property?
You檙e obligated to pay rent to your current landlord until the property is sold. After that, there are two scenarios that you can face as a tenant. In case the new homeowner decides to continue renting out this property, you檒l just have to continue paying rent to your new landlord under the same agreement.
What happens when a rental property is being sold in Ontario?
When a rental property is being sold in Ontario, the landlord must ensure that the tenant rights continue to be upheld. Landlords are not permitted to evict tenants if a lease agreement is still in effect. If the landlord wants to sell the property and evict the tenant in the process, adequate notice must be provided.
When does a landlord have the right to sell a house?
Learn Your Tenant Rights When Landlord Sells Property Landlord selling house? Since landlords own the property you檙e living in, they do have the right to sell it whenever they want. Still, that doesn mean that they can just kick their renters or tenants to the street immediately or mess with your security deposit.
Does a landlord have to tell tenants if the property is sold?
FAQ ?Does a landlord have to tell tenants if the property is sold? A landlord does not have to inform tenants if the property is sold. If the new owner wants to keep the tenants, then the new owner will become the tenants?new landlord.