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Thomas Judge
Thomas Judge, solicitor Advocate
Category: UK Property Law
Satisfied Customers: 33011
Experience:  award winning lawyer with over 15 years experience
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We are a property management company and we have sold our lettings

Customer Question

We are a property management company and we have sold our lettings portfolio to another letting agent. My question is .
All the current tenants have a tenancy agreement in place with us, will they need new tenancy agreements with the new owners. Sorry I should have said its just the property portfolio that has been sold to the agency not the company.
Submitted: 2 years ago.
Category: UK Property Law
Expert:  Thomas Judge replied 2 years ago.
It will all rather depend on the terms of your agreement with the tenants - there is normally in such contract (you will have to check) that you can transfer the rights which you hold to a third party. You will need to check this - you will also normally need to give notice to the tenants.
Customer: replied 2 years ago.

Thank you for your reply. The AST that the tenants have dose not mention any thing about transferring to a third party. I assume provided that we give them enough notice it should be ok ?

Expert:  Thomas Judge replied 2 years ago.
Well there will need to be some document between you and new business confirming the transfer of 'assets' and then to the tenants