Sale of Property Notice

What is a sale of property notice to tenant?

A sale of property notice to tenant is a formal written document that notifies a tenant about the sale of a property currently under lease. Landlords normally use this document to notify their tenants about the intention of sale or completed sale of the property under ongoing commercial lease agreements, long-term residential lease agreements, short-term leases, etc.

The parties involved in a sale of property notice to tenant template are the landlord and the tenant. The landlord is an owner of a property who wishes to sell it or already finalized the sale. The landlord could be a business, individual, or organization. The tenant is an individual or company that rents out the property from the landlord.

The sale of property notice in the U.S. does not automatically trigger the lease termination. This document can be customized for both scenarious:

• a simple notice to notify the tenant about the change of the landlord due to the sale of property; or
• a notice to notify about the sale of property and the request to move out.

Notice of Sale of Property vs Notice to Vacate Due to Sale – which one do I need?

Both documents are easy to confuse since they both aim to notify the tenants under the ongoing lease agreement about the sale of the rented property by the landlord. Below we made a table with all the difference you should be aware of to understand the difference between the documents:

How must this notice be delivered?

There are not specific federal or state laws that define how this type of notice shall be served to the tenant. The landlord or property management company may choose either of the following methods:

• certified mail
• personal delivery
• posting

However, before picking up a specific method for the delivery, check the following:

• State specific laws. Some states may establish a specific notice period for sending this type of notice. For example, in Florida the statutes provide that a month-to-month tenancy can be terminated due to the sale of the property by sending at least 15 days’ prior notice before the end of the rental period.
• City ordinances. Some cities like Los Angeles, San Francisco, or Oakland may establish stricter local ordinances providing information on how the notice should be delivered, as well as the notice period. For example, in case of a no-fault eviction in Los Angeles, the landlord may be required to pay mandatory relocation assistance to the tenant, including in a situation when the termination of the lease takes place due to the sale of the property.
• Ongoing lease. It is also important to check the provisions of the ongoing lease. The parties can agree on the termination of the lease on the grounds of the sale of the property. If this is the case, the lease can be terminated along with sending this notice.

How to draft a sale of property notice to tenant template?

Creating a sample letter to notify tenant of sale of property requires attention to details and inclusion of certain mandatory elements. Failure to incorporate a number of key elements in the text may result in a document being incomplete or invalid. Our template covers all essential elements to ensure the final document is complete and legally sound, including:

• Details of the parties. Every notice of sale of property shall include the full names, addresses, and contact email or phone numbers of the tenant and the landlord.
• Details of the lease. The text of a sale of property notice sample needs to clarify the full name and date of signing of the original lease agreement. Besides that, the landlord shall also specify the address of a rented property.
• Reasons for sending the letter. After reading this notice, a tenant shall understand that the property is being sold to a specified third party, including a date of selling the property. It is important to understand that the sale of the property does not automatically trigger the termination of the lease. In fact, the termination of the lease under the sale of property notice is only possible in either of the following circumstances: (i) if the state laws allow to end the lease upon the sale of the property (for example,
  Tenants who have occupied the unit for less than 12 months are not yet covered by California’s just-cause protections, so standard lease-end or notice rules apply — but ‘sale’ itself is never an independent legal ground for termination under state law, at any point of occupancy); (ii) if the provisions of the original provides an opportunity to early termination of the lease due to the sale of the property. This template can be customized for both scenarious – when the landlord is willing to inform about the property sale in general, or when the request to move out should also be attached.
• Date and Signature. Once the document is ready, the landlord shall sign and date it. Failure to include a signature will result in a document not being valid or legally enforceable in case of a dispute.

State-by-state notice periods when ending the lease due to sale of property

If the landlord is willing to terminate the lease due to the sale of property, the state-by-state requirements for the notice period below should be followed:

Who shall use this notice?

This notice of sale of property can be used by:

• landlords who are planning to inform tenants about the upcoming property sale;
• property managers informing tenants about the sale of property on the landlord’s behalf;
• a real estate broker is being hired by the landlord to manage the sale-purchase transaction of the property;
• new owner of the property or potential buyer.

This document is different from the notice to vacate rental property, which is being used by tenants to notify their landlord about the intent to vacate the leased property and ending the lease.

How to customize a sale of property notice at FasterDraft?

To get a fully customized letter template, follow a few easy steps below:

1. Click the “Create Document” button.
2. Answer simple questions in the form.
3. Select a letter’s template—sale of property notice PDF or Word.
4. Make a payment.
5. E-sign, download, and instantly use your customized letter template.

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