Who's responsible?

[cadence]

Hi guys

Again calling on the collective wisdom of the SS community.

I'm trying to buy a property in Vic. There is some damage in the property as disclosed by building inspection. Tenants moved in last month and havent raised issues. Settlement is 2 months from now.

If after the property settles, the tenant claims rent abatement for the period before the property settled (before I became the legal owner), will I be responsible for that claim?

I feel I should not be, as the vendor is receiving rent up until the settlement not me.

Is there a default position or is this something I can add a clause in my contract for?


Thank you all in advance.

 

[Terry_w]

If issues raised after you become the owner you would become liable.

 

[cadence]

thanks Terry

If say after I become owner, tenants raise issues about property and want rent rebatement but for periods which predate my ownership, I'm liable?

 

[Scott No Mates]

Whack it into the special conditions.

 

[Terry_w]

thanks Terry

If say after I become owner, tenants raise issues about property and want rent rebatement but for periods which predate my ownership, I'm liable?

Yesssssssss

 

[cadence]

I thought so
but was hoping someone would tell me I was wrong

Thanks Terry!

 

[Terry_w]

So just address these issues now before you become the owner.

 

[cadence]

Whack it into the special conditions.

I thought about it Scott ... but decided to let it go ... for peace

probably paying way too much for it already, but TRYING to look at the big picture and hoping in 10 years time I won't feel so silly about buying it

 

[Phar Lap]

Why is that Terry?

Is it a simple matter of once property is settled transfer of rental agreement is also transferred to new owner?

 

[Scott No Mates]

Once the owner has changed, the tenant doesn't care, you have picked up all of their liabilities on the property.

 

[Terry_w]

Why is that Terry?

Is it a simple matter of once property is settled transfer of rental agreement is also transferred to new owner?

The owner would be the one sued by the tenant in the first instance. There may be a legal argument that the previous owner is liable but it may depend on the contract of sale terms. The interest in the property and all problems associated with it would transfer at settlement.

 

[Phar Lap]

The owner would be the one sued by the tenant in the first instance. There may be a legal argument that the previous owner is liable but it may depend on the contract of sale terms. The interest in the property and all problems associated with it would transfer at settlement.

Can the new owner negotiate a new agreement? Before settlement?