what happens to my co op when the lease expires?
243947
Depending on the terms of the lease and the bylaws of the co-op, the expiration date may be extended by a vote of the shareholders or the board of directors. ... These co-ops recognize the need to extend their lease terms beyond the 30 years that lenders provide some tenant shareholders for the repayment of loans.
220176
In Ontario, when a residential lease expires, and there is no new lease, the tenancy automatically becomes a month-to-month tenancy. ... In comparison, tenants under leases would be responsible to pay for the full term of the lease even if they wanted to move out sooner.
45710
The fact that the terms of the lease has come to an end does not mean that you have to leave the property. Unless you or your landlord takes specific steps to end the agreement under the lease, it will simply continue on exactly the same terms. You do not need do anything unless you receive a notice from your landlord.
109978
If the leasehold of your property does expire, then the property will revert 'back' to being a freehold instead of a leasehold. This will therefore mean ownership of the land and building will go back to the freeholder. For example, if you had another sixty years left on the lease of your property in 2019.
190095
A tenant has the right to remain in the property under the terms of their existing lease while these new terms are negotiated. If the statutory renewal process in the Act has not been triggered by the lease expiry date, the lease will continue automatically and the tenant can remain in occupation on the same terms.
695259
"In the event of death of the primary tenant, the estate is responsible for the lease and future rent payments," says Dennis Hughes, a broker with Corcoran. "However, many landlords will end the lease once all remaining belongings of the deceased have been removed."
1368563
What happens at the end of the contract? At the end of your initial lease term, your options may include renewing the contract for one to ten years, upgrading to a newer solar system and signing a new contract, or removing the system.
1010892
If you have a closed-ended lease, you're responsible for any excess wear-and-tear on the vehicle at the time you turn it in. ... If the car is in really good condition and is worth more than its current market value, you can rollover the excess value into your next vehicle.
700277
When a lease ends, a tenant may choose to move, continue to pay rent as a month-to-month tenant, or sign a new lease. ... A landlord and a tenant may also agree to extend the tenancy by signing a new lease agreement. The landlord can change the terms of the lease and increase the rent.
1257775
You only own a leasehold property for a fixed period of time. You'll have a legal agreement with the landlord (sometimes known as the 'freeholder') called a 'lease'. This tells you how many years you'll own the property. Ownership of the property returns to the landlord when the lease comes to an end.
509901
If you want to stay on in the property once your fixed term tenancy has expired you should ask your landlord for a new tenancy agreement. The tenancy agreement should be for a fixed period of time, either 6 months or a year. Without a new agreement you will become a periodic tenant and can be evicted much more easily.
1254139
Usually for contract hire and personal contract hire agreements, there is an option to extend your lease for a limited period of time. Your car lease company may charge you to extend your lease or not allow you to at all. For personal contract purchase, the option is to pay for ownership of your vehicle.
879983
The fact that the lease has expired does not mean that you have to leave the property. Unless you or your landlord takes specific steps to end the tenancy it will simply continue on exactly the same terms. ... the landlord may serve a prescribed notice proposing an assured periodic tenancy, where you pay a monthly rent.
559654
If the lease expired and the tenant won't leave you'll need to either file an eviction or let the tenant be. If you do nothing than the tenant will become a holdover tenant as discussed earlier in this post. If you're going to proceed forward with an eviction be sure to follow all the proper legal procedures.
343958
When Your Lease Term Ends Generally, landlords must not accept rent or agree to new terms beyond the original lease term if they do not wish to renew the lease. Doing so could be interpreted by a court as a default extension of the lease, at least on a month-to-month basis.
1151716
Upon the expiry of a 99-year lease, the land will automatically be reverted to HDB without question, and the value of the HDB flat will be 0. This means that all other rights invested into the property by various stakeholders including the owner himself will be extinguished without any compensation.
204366
In the event that your landlord sells the building in which you have a leased business, the transaction will be covered under the Landlord and Tenant Act 1954. The simplest answer is that nothing will happen to your lease. The new owner will be required to honour your lease until the end of its term.