Does anybody know, from a purely legal point of view, is the owner of an investment property automatically the landlord?
Or can the owner assign somebody else as landlord?
And therefore on the lease, is there any legal problem with writing somebody elses name as the landlord, even though they don't own the property?In short, does the name written in the landlord box on the lease have any legal standing, or can any name be written there. Does it have to be the owner?
Peter
I would think you could nominate a person or entity as a landlord on the document. For example you could choose to have xyz R/Estate act as your agent (landloard) to manage the property.
If someone is to be your 'agent', then they are required to have an agency licence. You could always lease to the entity and they could offer a sublease to the tenant.
You can generally assign most things or appoint someone as you agent (in the legal sense, not real estate sense). If you appoint an agent they are acting on your behalf, so you would still bear the tax etc.
But with real estate there are various licences needed if someone is going to act as a property manager. I am not sure how you would go.
Maybe you could lease it some someone and give them permission to sublease it.
What are you trying to do?
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
I am the tenant in the rental property,
and my concern is that the Name of the Landlord stated on my lease is NOT the owner of the property. (There is another family member's name written on the lease as Landlord, and the actual legal owner is not mentioned on the lease.)Is it legal to do that?
Does the name of the Landlord written on the lease have to be the owner of the property?Peter
Peter, how did you find out?
The landlord doesn't necessarily have to be the owner. It could be the person sub-leasing it I beleive.
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
Reply to God of Money,
I requested the mortgage title from the government office and it definitely has another person as the sole proprietor of the property.
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