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SALE SUBJECT TO LEASE

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  • Re: SALE SUBJECT TO LEASE

SALE SUBJECT TO LEASE

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lornafoley
lornafoley
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on ‎11-06-2020 04:56 PM

on ‎11-06-2020 04:56 PM

SALE SUBJECT TO LEASE

I have a sale of a parking space.  The lot involved is leased to a Car Park Management company.  The lease is to remain in place.  I note when establishing a workspace the lessee is noted as an interest holder.  Does the lessee need to be represented and complete a consent?

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VesnaVranjes
VesnaVranjes Star Employee
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on ‎19-10-2021 05:06 PM

on ‎19-10-2021 05:06 PM

Solution

Re: SALE SUBJECT TO LEASE

Hello,

 

If the Lease is remaining in place, treat the Sale/ Purchase as you would normally.

The Lessee does not need to be represented as there is no change to the Lease and will continue even after the new Proprietors are registered.

As you can now register dealing relating to Leasing (Transfer of Leases, Variations of Lease etc.) this additional information is now visible on the Land Title's tab.

 

Kind regards

Vesna Vranjes

PEXA Partner - Virtual Hub

 

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emmatrustum
emmatrustum
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on ‎19-10-2021 10:56 AM

on ‎19-10-2021 10:56 AM

Re: SALE SUBJECT TO LEASE

Hi, 

 

Just wondering if you found the solution?

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lornafoley
lornafoley
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‎19-10-2021 04:08 PM - edited ‎19-10-2021 04:10 PM

‎19-10-2021 04:08 PM - edited ‎19-10-2021 04:10 PM

Re: SALE SUBJECT TO LEASE

No solution was offered, however as the lease was continuing when I spoke with PEXA they advised the party did not need to be represented so we proceeded with the transfer and the Lease party remained unrepresented.  

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VesnaVranjes
VesnaVranjes Star Employee
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on ‎19-10-2021 05:06 PM

on ‎19-10-2021 05:06 PM

Solution

Re: SALE SUBJECT TO LEASE

Hello,

 

If the Lease is remaining in place, treat the Sale/ Purchase as you would normally.

The Lessee does not need to be represented as there is no change to the Lease and will continue even after the new Proprietors are registered.

As you can now register dealing relating to Leasing (Transfer of Leases, Variations of Lease etc.) this additional information is now visible on the Land Title's tab.

 

Kind regards

Vesna Vranjes

PEXA Partner - Virtual Hub

 

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