Hi guys,
I wish I can get some advise from the experts or people that have dealt with similar situations and what are the options for me.
Basically what happened was I recently bought an investment property in QLD and there were existing tenants in place, everything was good and normal until on the settlement day I was told the tenant have arrears with the previous owner and the owner demand me to take over the debt as well.
I replied NO and the sale just flows through without much hassle.
NOW, the tenants has been short paying by over a month worth of rent and I've issued all the required notice and basically they must leave the premises now, HOWEVER, when my agent went to RTA and check on the bond status, RTA advise the agent that the bond has been finalized and it was BEFORE our contract settlement.
So my question now is, did the previous owner in breach of any of the contract laws or misleading conduct etc, as when I sign the contract I was believe that the bonds were there, when the owner finalized the bond with the tenant does that also means the tenancy contract has ended? if not should there be any correspondence confirming that the bond has been finalized but the original tenancy agreement still in place?
Further more, the owner did all this while we are in the period of exchanging contract and he have not advise either the solicitors or agent or myself. Can I take this matter further base on this act?
Any advise or ideas would be greatly appreciated.
Cheers,
Terrence
I wish I can get some advise from the experts or people that have dealt with similar situations and what are the options for me.
Basically what happened was I recently bought an investment property in QLD and there were existing tenants in place, everything was good and normal until on the settlement day I was told the tenant have arrears with the previous owner and the owner demand me to take over the debt as well.
I replied NO and the sale just flows through without much hassle.
NOW, the tenants has been short paying by over a month worth of rent and I've issued all the required notice and basically they must leave the premises now, HOWEVER, when my agent went to RTA and check on the bond status, RTA advise the agent that the bond has been finalized and it was BEFORE our contract settlement.
So my question now is, did the previous owner in breach of any of the contract laws or misleading conduct etc, as when I sign the contract I was believe that the bonds were there, when the owner finalized the bond with the tenant does that also means the tenancy contract has ended? if not should there be any correspondence confirming that the bond has been finalized but the original tenancy agreement still in place?
Further more, the owner did all this while we are in the period of exchanging contract and he have not advise either the solicitors or agent or myself. Can I take this matter further base on this act?
Any advise or ideas would be greatly appreciated.
Cheers,
Terrence