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Difference between revisions of "Tenancy Agreements (19:II)"
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→B. General
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A lease gives the tenant the right to use, enjoy, and dispose of the property for a fixed duration. The landlord has a freehold in reversion, allowing them to sell their property to someone else. A tenancy continues under the same terms when a rental property is sold in BC. The landlord cannot terminate a lease simply because they want to sell the property. Instead, the new owner will take over as the landlord. No new lease is required to be drafted and signed, though this may happen if both parties agree. | A lease gives the tenant the right to use, enjoy, and dispose of the property for a fixed duration. The landlord has a freehold in reversion, allowing them to sell their property to someone else. A tenancy continues under the same terms when a rental property is sold in BC. The landlord cannot terminate a lease simply because they want to sell the property. Instead, the new owner will take over as the landlord. No new lease is required to be drafted and signed, though this may happen if both parties agree. | ||
=== 1. Two Methods of Creating a Tenancy Relationship === | === 1. Two Methods of Creating a Tenancy Relationship === | ||
