This Temporary Lease Agreement to Prospective Buyer of Residence Prior to Closing form is a temporary lease between the seller and buyer of a residence prior to closing. It it for the situation where the seller desires to allow the buyer to take possession prior to closing of the contract of sale.
Tucson Arizona Temporary Lease Agreement to Prospective Buyer of Residence prior to Closing
State:
Arizona
City:
Tucson
Control #:
AZ-1062L
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Arizona Temporary Lease Agreement To Prospective Buyer Of Residence Prior To Closing?
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FAQ
The new owner must allow the tenant to stay until the end of a fixed term lease, but if the lease always was or has converted to a month-to-month lease, then the new owner may terminate tenancy by giving the tenant a 30-Day Notice of Termination.
If you don't have an early termination clause in the lease, you can't make the tenant leave simply because you decide to sell. A lease agreement contains elements of contract law and property law, and the fixed term of the lease applies to both you and the tenant.
The tenant's agreement is tied to the property and not to the owner. That means if the property sells while occupied, the tenant has the right to live there until the standing lease expires. The new owner has to honor the length of the original lease created between the seller and tenant.
§ 33-1314(D). To terminate a month-to-month rental agreement, a landlord or a tenant must give 30 days notice in writing before the next rent payment would normally be due. A.R.S. § 33-1375(B).
Under Arizona law, a holdover tenant refers to a tenant that still remains in the leased premises after the expiration of the lease.
A tenancy agreement can normally only be changed if both you and your landlord agree. If you both agree, the change should be recorded in writing, either by drawing up a new written document setting out the terms of the tenancy or by amending the existing written tenancy agreement.
If the landlord has evicted the tenant and law enforcement has legally locked them out, the landlord must give the tenant notice and then hold the property for 21 days. If the tenant does not contact the landlord in that time period, the landlord may sell or dispose of the property.
33-1375 - Periodic tenancy; hold over remedies. A. The landlord or the tenant may terminate a week-to-week tenancy by a written notice given to the other at least ten days prior to the termination date specified in the notice.
If your lease includes a home buying clause, it means you can terminate your lease early if you've purchased a new home as long as you give your landlord or property manager proper notice.
Landlords are prohibited from harassing or retaliating against tenants who exercise their rights. In Arizona, the landlord cannot terminate a lease, refuse to renew a lease, or raise the rent on a tenant who has: Exercised a legal right.
