FAQ - All our experts answers to frequently asked questions of sellers of rented properties, tenants in rental properties and real estate investors
Can you buy and sell a property with tenants?
Yes, it is possible. The ley 29/1994 of Urban leases and their predecessors allow the alienation of property even when there are occupants.
It is true that there are small differences when buying a dwelling or a estate for commercial use if they are part of a building
What specific procedures exist to sell a property with tenants?
The first of all is to inform your tenant of your intention to sell, who knows! You may save yourself a lot of paperwork if your tenant is interested in buying it. Talk to your tenants first, we are human and like to have things explained, especially when talking about our home.
But, legally speaking, you will first have to consider whether your tenant has the right to buy first, you will find this in the contract you signed ,and send them a burofax informing them of the sale and its conditions depending on whether they have that right or not. We can help you in all this process.
What does it mean when a tentant has the right to buy first?
These are two rights that the tenant may or may not have and that can be executed at different times.
The tanteo is the right your tenant has to buy first in the same conditions than a third party
The retracto It is the right by which the tenant could claim the sale of the property after it has been sold and that can be executed up to 30 days after the communication of the sale if it had not been communicated before or the conditions of the sale had changed.
Do all tenants have these rights?
No, that will depend on the contract and when it was formalized. Simplifying, contracts after 1985 ley 29/1994 but prior to ley 4/2013 of June 4 2013, they have this right as inalienable, so that even if they had expressly signed it, it would not be valid. However, contracts signed later if we can find that they expressly have this right and, therefore, only had to inform them of their intention to sell.
What if what I sell is a building?
In the event that you are formalizing the sale of an entire building, this right is not applicable.
Contact us! We will be happy to answer them all.