Tenancy Assumption and Closing Issues At the End of the Month (Ontario)
Question:
I have a closing scheduled for the end of the month and given proper notice to the Tenant’s to vacate. I now understand that they won’t be out.
What should I have done here?
Answer
Let’s assume that the closing is scheduled for the end of the month, that is 31 July. And, let’s also assume that the Tenancy runs to 31 July.
Effectively, the closing in the APS is to take place by 6:00 pm, but the Tenancy runs until 11:59 pm.
This APS should have provided that the Buyer assumes the Tenant (if only for a few hours) otherwise the Seller is in breach.
The problem is that the Tenant can interfere with “vacant possession” because he’s still there for another few hours.
Brian Madigan LL.B., Broker