The tenant buys a condo: Myths and Facts about reciprocal obligations

Note aux lecteurs : Ces articles sont des résumés de décisions rendues dans les affaires citées. Veuillez noter qu'il ne s'agit pas d'une revue de la jurisprudence et que d'autres décisions peuvent être rendues par la suite ou être différentes et changer l'état du droit. C'est également le cas si les faits ne sont pas les mêmes que ceux présentés dans l'affaire mentionnée.

At a time when the real-estate promotors’ offers are enticing and aggressive and interest rates still affordable, the temptation is strong for tenants to become owners. With a monthly mortgage payment that approximates their monthly rent tenants could decide to buy a condo, and this often without evaluating the consequences of this on a major contract already signed, which is the LEASE! The decision taken under the influence of emotion will certainly have financial consequences for the owner and the tenants.

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13 Nov 2015

News
Legal

About the author

Me Jean-Olivier Reed, avocat

Me Jean-Olivier Reed graduated from Collège l'Assomption in legal technology in 1997 and then from the University of Montreal in law in 2001. Member of the bar since 2004, he was a lawyer and building manager from 2004 to 2006.

Lawyer with Messier Soucy lawyers since 2006. He works in real estate law and more particularly in rental law and co-ownership law.

He has written several articles in the newspaper "Le Propriétaire" on various topics dealing with rental law.
He lectures to members of the Quebec Landlords Association on current topics in rental law.