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 end the original lease agreement. This template is suitable for various types of leases, including commercial, residential, 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. The landlord could be a business, individual, or organization. The tenant is an individual or company that rents out the property from the landlord.

This document is different from:

• Notice to Vacate Rental Property—a legal document used by tenants to notify their landlords about the intent to vacate; and
• Letter to End Lease—a notice used by landlords to end the lease in case of a tenant’s material breach or lease expiration.

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.

• 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 termination. After reading this notice, a tenant shall understand three important things. First, that the lease agreement ends. Second, that the the property should be vacated. Finally, that the reason for termination is a landlord’s intention to sell the property to a third party.
• Move-out process. A notice of vacate due to the sale of property template shall explicitly define the move-out process, including (1) the last day of the lease; (2) conditions for the return of a deposit; and (3) return of the keys from the property.
• 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.

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.