We have recently signed a contact of sale and organised for settlement of the property to take place mid of this month. The vendor has indicated that he requires to rent the place for 5 weeks post settlement and will be paying $500/week directly to us.
How can we do this without the need to getting vendor’s solicitor involved as he had a fallout with them? Could I get an agreement drawn between myself and the vendor to indicate this special arrangement? If so, are there any standard templates that I could use?
Any suggestions / guidance will be much appreciated.
if you do this without a solicitor you will get into trouble.
Under state law a residential lease has a minimum term of 6 months…The solicitor doing your conveyancing should be able to assist with a licence to occupy for a little bit more than you are paying for the conveyancing.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terry – thanks for the info and I will touch base with my solicitor to assist with the licence to occupy as you have suggested.
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