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Last revision: 09/07/2024
Available formats: Word and PDF
Size: 1 page
Download a basic template (FREE) Create a customized documentThe Notice of Change of Property Ownership is a document that notifies tenants that the ownership of the rental property they occupy has been transferred to another party. This letter is used by a landlord who has either sold or gifted the rental property to another party. It means that the landlord no longer owns the property and the new owners become the new landlords of the property.
Landlords are required by law to inform their tenants if there is a change in ownership of the rental property, and there is no required notice period for this letter. However, it is important to send this notice as early as possible. This document introduces the new owner and notifies the tenant about the date the landlord will finally transfer their title to the new owner. After receiving this letter, the tenant may agree to vacate the rental property before the expiration of the lease in exchange for some form of compensation or stay for the entire duration of their lease and renegotiate the terms of their lease with the new landlord.
How to use this document
This document requires basic information, such as:
After completing the document, the landlord should sign the letter and deliver it to the tenant. If the landlord is sending this document to multiple tenants, the landlord can circulate it to all the tenants.
Alternatively, this document can be downloaded and sent to the tenant(s) via email. Also, the landlord should keep at least one signed copy for record purposes.
Applicable law
Generally, the laws regulating a lease agreement are as follows:
None of these laws outline the form or content of this document. However, the general rules of contract apply to this document.
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Landlord's Notice of Change of Ownership - FREE
Country: Nigeria