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We Have A Lease And The Property Is Sold - Tips

Thu, 8 Jul 2010 00:41:49

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.

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