Real Estate

The leased property: Complying with current law

A contract is an agreement between specific people to do or not do certain things. The lease takes this stage further. The lease runs with the land and no individuals are specified.

Since a lease is attached to the land or “runs with” the land, free owners and tenants can come and go for the duration of the lease, but always subject to the terms of the lease. Of course, if you think about it, this is ideal and practical, but it can lead to problems.

The lease must contain the following clauses to comply with current law:

1. Property identification

The property is called “a disappearance” and is described in the lease by reference to a plan. The plan will have a narrative explaining that it correctly shows the property you want to buy. If there is any discrepancy, the client should inform their attorney.

2. Rights granted

Leasing rights are granted so that the property “works” as a habitable apartment, for example, access to the road, water supply and electricity, among others. These rights must be in the lease and can include the following, but in practice they can cover any rights. Popular apartment examples are as follows: –

3. Right to perform services through contiguous goods

4. Right to go to the adjoining property to repair said services and the property itself, repairing the damage caused.

5. Right to use property roads and trails

6. Right to use the common parts of the building

7. Right to use the gardens, lawns and recreational areas of the property and the farm together with other legal occupants.

8. Right to use a communal garbage can

9. Right to shelter and support

10. Right (subject to payment of all charges) to use a club room or other common facilities on the farm.

11. Right to benefit from agreements and restrictions imposed in a similar way to other residents than to property in ruins

12. Right to use the bicycle shop.

13. Right to use the main television antenna

14. Right to use assigned parking space

15. Right of way over a reserved area.

16. All rights reserved

These are rights retained by the owner and function in a manner opposite to the rights granted. In other words, the owner and other people have rights to your disappearance or land.

Tenant pact

Covenants are a set of promises that go with the land. The tenant can assign his interest many times but will always be subject to terms (promises, agreements or covenants) that run with the land.

Owner agreements

This is a list of agreements that the landlord makes with the tenant and may include the following: –

1. Obligation to impose similar norms and agreements on any other person to whom the lease of part of the building is granted. If necessary, and if your costs are paid, the landlord will enforce those regulations and agreements against anyone who breaches the terms of your lease.

2. Obligation to insure the entire building and common parts.

3. Obligation to maintain and decorate the structure and exterior of the building.

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