We Have A Lease And The Property Is Sold - Tips
Hello
The lease of property is not a loan of the property,
therefore the new owner should in normal world legal view be buying a the
property with all the contracts to remain in force.
When a person rents aproperty with a written
lease, they own the rights to the property.
This is called Leasehold.
http://en.wikipedia.org/wiki/Leasehold
When a person buys a property, they own the rights to
the property more or less Free of restrictions.
This is called Freehold.
http://en.wikipedia.org/wiki/Freehold_%28real_property%29
Because we purchased the bundle of rights from the
person, it should also pass to the next buyer, it is more or less a lien on the
property, that needs to be satisfied.
There is a need to have this in writing, then to also
make sure some Togo law is not different than some USA or International
lawss.
NOTE: Risk, our risk is for the time it takes to
recover the original investments or principle.
Therefore if we rent a property and do improments, if
the cost is 5000 and in simple math we receive 500 profit per month from the
sub-let it would take 10 months to recover our
principal.
We Have A Lease And The Property Is Sold - Tips
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