Document background
The Tenant Occupied Property Addendum To Agreement Of Sale is a critical document used in German property transactions where the subject property has existing tenants. It becomes necessary when selling a property that is currently leased to ensure a smooth transition of landlord responsibilities and to protect all parties' interests. This document addresses the unique requirements of German tenant protection laws, particularly the principle that existing leases survive property sales intact. The addendum covers essential aspects such as security deposit transfers, rent prorations, and tenant notifications, ensuring compliance with German tenancy laws while facilitating the property transfer. It's particularly important given Germany's strong tenant protection framework and the legal requirement to maintain existing lease terms after property sale.
