This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Selling My Property With A Tenant In Philadelphia
Category:
State:
Multi-State
County:
Philadelphia
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
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FAQ
The notice period will depend on the tenancy or agreement, but it's usually at least 4 weeks.
Thirty-Day Notice to Quit: If the tenant has a lease or rental agreement for over one year and violates any terms of the lease or rental agreement, the landlord can give the tenant a 30-day notice to quit. This notice informs the tenant that the tenant has 30 days to move out of the rental unit.
Lease Renewals For a fixed-term lease, the landlord must provide proper notice of non-renewal based on the lease term: 1 year or more lease: 3 months notice. 6 months to 1 year lease: 1.5 months notice. 1 month to 6 month lease: 1 month notice.
Tenants in Pennsylvania may have legal grounds to break a lease under specific circumstances, such as instances involving eviction, domestic violence, military duty, or uninhabitable living conditions.
Can a landlord break a lease to sell the property? Yes, this is well within your right. However, whether you keep tenants during the selling process comes down to personal preference. Some landlords prefer having tenants out of their property before they put the house on the market.
Pennsylvania requires landlords to give tenants at least 30 days' notice when they plan to sell a property.
A new owner may decide not to renew current leases or may increase rent in the next term for a tenant, but a change in ownership does not give a landlord the right to evict compliant tenants or change lease terms unless the lease itself contains language allowing the owner to end the lease on a transfer of ownership.
A tenant has the right to receive rent payments from the new owner if the property is sold during the lease term. The new owner must honor the lease agreement and cannot increase the rent or change any of the terms of the lease without the tenant's consent.
The landlord tenant laws that allow you to break a lease are different from state to state. In many places, you can get out of your lease without penalty for a number of reasons, such as domestic violence, an unsafe environment, or if you've been called up for military service.
A tenant has the right to receive rent payments from the new owner if the property is sold during the lease term. The new owner must honor the lease agreement and cannot increase the rent or change any of the terms of the lease without the tenant's consent.