I accepted an offer to sell my triplex in Mississauga. One unit has a tenant who’s been there for 8 yrs paying $1300 (utilities incl). Buyer wants to move in and renovate. I served N12 but tenant is threatening legal action saying they need compensation and a hearing. No written lease exists. Sale closes in 2 months. What can I do to ensure sale goes through?
3 Likes
Few important points:
- You MUST pay 1 month rent compensation before the termination date
- Tenant has the right to a hearing - this is not optional
- LTB hearings are taking 4-5 months currently
- Check your Agreement of Purchase - does it require vacant possession or just serving the N12? Big difference.
- Make sure N12 was filled correctly and properly served
You should get a paralegal asap to review everything and represent you at LTB.
4 Likes
ur trying 2 make someone homeless who paid u for 8 yrs. shame on u
The agreement says I need to provide vacant possession. What are my options?