We Have A Lease And The Property Is Sold - Tips
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.
When a person buys a property, they own the rights to
the property more or less Free of restrictions.
This is called Freehold.
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
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