Would existing tenant have grounds for law suit if replace with lease option tentant/buyer

[alangoldade]

Hey:

Anyone have any experience selling a place with a tenant in it to a lease option buyer/tenant?

I`m wondering about the liability of the existing tenant filing complaint/suit that they were replaced by another "tenant". I.E. In the eyes of the law, when is the "lease option buyer" an "owner"?

I am in BC, if that matters.

Thanks for any thoughts.

 

[markl]

Hi Alan,

I am not as familiar with the Landlord tenant laws in BC but in Ontario that is a no no. We have to wait until the tenant leaves and the unit is vacant before we can put a Lease option tenant in. Typically it is easier to buy a property off a home owner and complete the transaction rather than waiting on a tenant to vacate.

Regards,

 

[BarryMcGuire]

I don`t think it matters what province you are in; tenants have rights and therefore impossible to punt an existing tenant solely for the reason of putting in a new lease/option tenant. Of course you could negotiate with the existing tenant, provide some inducement for him to leave. If you do this , you want the existing to give up his lease/rights and you want that covered legally so he can`t come back at you. You probably want a quit claim re the lease and DEFINITELY get your lawyer to help out with this one.

Cheers

Barry