Notice to Tenant (Ownership Change)

This precedent is a simple form of Notice to be given to tenants at a commercial building to let them know about new ownership and to whom and how rent payments are to be made going forward. The purchaser will want the vendor to grant this notice to the tenants to save them on the time and trouble of doing the same. This precedent contains practical guidance and drafting notes. The Tenants know their old landlord, they do not yet know their new landlord. Simply, the purchaser of a commercial property with tenants will want the vendor (being the old or original landlord) to inform the tenants about the new ownership. This Notice becomes a very simple way of conveying that information to the Tenants without too much fanfare. For more information, see: Purchaser's Due Diligence and Closing Documents Checklist (ON); Assignment and Assumption of Leases; Assignment and Assumption (Contracts).