Posted by
24
16 yrs ago
We are currently leasing a flat in Mid-Levels. There is one more year left on our lease. Today, I was informed that our landlord has just sold the flat to a new owner.
Does anyone know whether the new landlord has the right to evict us before the lease deadline? Or can we still, by law, remain in the flat until the lease expires? Does anyone know what the regulation is on this issue?
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Don't know about HK but in most countries your contract is still valid. Otherwise if someone wanted to evict a tenant all they would have to do is sell the flat to their brother.
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ceeh
16 yrs ago
Same thing happened to us but there was no mention of us moving out.
Ask the Agent who is handling your lease what the intentions of the new owner are.
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But does your lease have a one-year break clause? If it's the standard HK lease, it has a break-clause at one year, meaning the new landlord can ask you to move out and vice-versa.
Otherwise, whenever I've been shopping for flats that have tenants, I'm usually told by the real estate agent that you can't kick the tenants out until their lease expires...
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tpol
16 yrs ago
Local HK contracts usually have the 1st year where you are unable to break the contract but in the 2nd year you can (by either party) with a notice period.
axptguy38, selling to your brother would incur refinancing and stamp duty as you must settle the loan with the bank as you have sold it.
It would be expensive.
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I posted a similar question and answer in the property forum several months ago. Here is the law:
http://www.hklii.hk/hk/legis/en/ord/7/s53.html
And yes the landlord can terminate early if the new owner or his relatives want to move in and have no alternative place to live.
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i have never heard that anyone was able to kick the tenant out and successfully invoke the above clauses.
does anyone have any such experience?
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"axptguy38, selling to your brother would incur refinancing and stamp duty as you must settle the loan with the bank as you have sold it."
Of course, but that wasn't really my point.
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