Explanation of the Landlord and Tenant Act of 1987
Explanation Of The Landlord And Tenant Act Of 1987
The Landlord and Tenant Act of 1987 apply to cases where a landlord plans to sell the property one owns or to give up the interest in a freehold property that the landlord owns. The entire Act is extensively detailed and caters to every specific case that can possibly exist. It is beyond the scope of one discussion to shed light on all the statutes and implications of the law. However, it is fairly simple to understand what the Act is all about.
The Landlord and Tenant Act of 1987 primarily offers the tenant a right to procure the property he or she is living in. A landlord can always sell a property which he or she owns without having to seek permission from anyone. But the first offer should be made to the tenant because it is the tenant who has been living there and it only makes moral and social sense to allow them to continue staying, as long as the landlord’s objective is met. Here, the landlord’s objective is to sell the home. The Act exists to facilitate a tenant’s purchase of the property or flat from the landlord.
The Landlord and Tenant Act of 1987 says that it is for a tenant to reject an offer and only then a landlord can sell the property or flat through an auction or through the open market. The right of first refusal lie with the tenant. A landlord must send a written offer to sell the property at a given price and certain terms which should the tenant reject, only then can the landlord put the property on the market or call in for an auction.
However, a landlord cannot offer an inflated ask price and terms to a tenant and then offer a more affordable price to a new party who eventually buys the property. In such cases, a tenant has all the rights to ask for the particulars of the purchase and the subsequent transaction. If the offer made to the party turns out to be better than what the tenant was offered and thus rejected, the tenant can get the new party to sell the flat at the exact same price and terms that the landlord had offered him or her.
The Landlord and Tenant Act of 1987 account for all possible variations that may exist or pop up during sale of a property that has a tenant. Albeit, many tenants wouldn’t qualify for this entitlement as well, which is also documented in the Act.
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