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Buying a house but a couple already leasing it...

  • 21-06-2011 10:57pm
    #1
    Fart
    Registered Users, Registered Users 2 Posts: 1,825 ✭✭✭


    Hey guys,

    My OH and I are going to buy a house, but there are already a couple leasing it for the past year or two. Obviously we want to live in this house, so what are my rights to take over the house to live in?

    I understand that if there is a lease contract, then I must abide by it.

    Are there any crazy technical legalities I should be aware of?

    Cheers.


Comments

  • #2
    bertie1
    Banned (with Prison Access) Posts: 509 ✭✭✭bertie1


    Look for vacant posession as part of the sale terms , the buyer is king in this economy . As far as I am aware the details are on the Resedential Tenancy Board website, needing to move into the house yourself is a valid excuse for a landlord breaking a lease


  • #3
    odds_on
    Closed Accounts Posts: 1,869 ✭✭✭odds_on


    bertie1 wrote: »
    Look for vacant posession as part of the sale terms , the buyer is king in this economy . As far as I am aware the details are on the Resedential Tenancy Board website, needing to move into the house yourself is a valid excuse for a landlord breaking a lease

    Excuse, no - reason, yes; otherwise correct if it is a Part 4 tenancy lease. However, if the lease is a Fixed Term lease this is not possible. The landlord could only try to "buy out" the fixed term lease from the tenant if the tenant has not broken his obligations. He could also wait until the fixed term lrase expires not not renew the lease - but overholding is still possible.

    However, if you don't have a clause in the sales contract for vacant possession, (and a date by when this should occurr), you could have problems. The tenant might overhold and this could take a year or more to resolve. Also try to look for compensation if the sale does not go through for reasons that are out of your control: overholding by tenant, higher offer by another purchaser etc.


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