SALE SUBJECT TO LEASE

[lornafoley]

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?

[emmatrustum]

Hi, 

Just wondering if you found the solution?

[lornafoley]

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.  

[VesnaVranjes · Accepted solution]

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