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Ask Leon Your Own Question
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44911
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Second opinion] I have an offer to sell my commercial

Customer Question

second opinion] I have an offer to sell my commercial property which is leased to tenants with first option to buy The lease was drawn up by tenants and myself for a two year period with 2 by 2 option. The lease was never registered. The tenants are unable to buy and I wish to sell to third party who don't want to keep tenants on. Where do I stand legally
JA: Because laws vary from place to place, can you tell me what state the property is in?
Customer: Queensland
JA: Has any paperwork been filed?
Customer: No
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 4 months ago.
Category: Australia Law
Expert:  Leon replied 4 months ago.

Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

Expert:  Leon replied 4 months ago.

Good Evening,

My apology for the delay.

You have to offer the sale to the tenants for the value that the purchasers are offering. I am assuming this is what the option to purchase clause says. If they refuse to buy then you can sell the other buyers with the tenants in the property.

There is very little that you can do unless the tenants agree to termination of the lease.

If they do not agree to ending the lease you cannot kick them out unless there is a breach by them.

You can only sell with the lease. If the lease is not registered it does not change the fact that they have a lease and they can enforce their rights.

I hope this makes sense and is of assistance. If you wish a phone call please elect for one but be aware it will be an additional fee. If there is nothing further thank you for using my services.

If I have missed anything, or you have any further questions please let me know

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