Sale Agreement with Tenant In Occupation

Name: Sale Agreement with Tenant In Occupation
Brand: SheriaPlex
SKU: DOC-557
Price: 200 KES
Availability: InStock

Document Type

Microsoft Word (Editable)

Pages

Price: KES 200

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Document Overview

A Sale Agreement with Tenant in Occupation is a legally binding real estate document used in Kenya when selling a property that is currently rented out or leased to a third party (the tenant).

Key Components:
1. Parties to the Agreement
2. Description of the Property
3. Tenancy Disclosure
4. Purchase Price & Terms
5. Assignment of Rent
6. Completion Clause
7. Risk & Possession Clause
8. Seller’s Warranties
9. Notification to Tenant
10. Rent Apportionment
11. Dispute Resolution
12. Governing Law
13. Execution & Witnessing

Purpose:
1. It acknowledges that the property is occupied and that the tenant has legal occupancy rights which must be respected.
2. It informs the buyer that they will assume the role of landlord under the current lease or tenancy agreement after completion.
3. The document safeguards the tenant from unlawful eviction or disruption during the transfer of ownership.
4. It provides details such as rent amount, term of lease, and responsibilities so the buyer knows exactly what they’re taking on.
5. It helps in calculating rent owed to the seller before completion and what the buyer will collect afterward.

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Sale Agreement with Tenant In Occupation

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