Dispose age lease easily

Aug 6th, 2022
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How to dispose age lease

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With an old lease the original landlord and original tenant are bound to perform all the landlord and tenant obligations throughout the whole lease term, even if they transfer their interest to someone else. This principle is called privity of contract.
Where several co-owners of immoveable property transfer a share therein without specifying that the transfer is to take effect on any particular share or shares of the transferors, the transfer, as among such transferors, takes effect on such shares equally where the shares were equal, and, where they were unequal,
(2) The seller shall be deemed to contract with the buyer that the interest which the seller professes to transfer to the buyer subsists and that he has power to transfer the same: Provided that, where the sale is made by a person in a fiduciary character, he shall be deemed to contract with the buyer that the seller
The distinction between extension and renewal is chiefly that in the case of renewal, a new lease is required while in the case of extension the same lease continues in force during the additional period by the performance of the stipulated act.
Delivery of tangible immoveable property takes place when the seller places the buyer, or such person as he directs, in possession of the property. Contract for sale. A contract for the sale of immoveable property is a contract that a sale of such property shall take place on terms settled between the parties.
If the rental agreement is not renewed then the tenant is legally required to vacate the property which he was occupying. The landlord will recover the possession of the flat.
The two most common types of leases are operating leases and financing leases (also called capital leases). In order to differentiate between the two, one must consider how fully the risks and rewards associated with ownership of the asset have been transferred to the lessee from the lessor.
If you prefer, it may be possible to negotiate a lease extension with your landlord on whatever terms you can agree. If you decide to try to negotiate a lease extension, there are no rules and your landlord could refuse to extend your lease, or set whatever terms they like.

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