Regulated Tenancies Rights Of Succession
when you buy a protected tenancy it is very important to find out exactly who is residing in the property as it my be possible for a close family member to inherit the tenancy upon the death of the tenant that is registered on the tenancy. This is a very real possibility and care should be taken avoid this. The house will increase in value when the tenant dies as it will become vacant. You really don’t want another tenant taking over the tenancy for another 30 years
Knowing Who Lives There Is Important
In many cases it is unavoidable as a father and daughter may occupy the house. When the father dies the daughter may inherit the tenancy. However if another family has moved into property and has been there for atleast two years before the tenant dies they may also be entitled to succeed the original tenant. this is why it is important to visit the property occasionally to see if there are signs of another tenant living there.
You are well within your rights to ask for an explanation should there be evidence of another person living in the house. We would be glad to help if you are unsure about the status of your tenants and their family members please get in touch with us where we can discuss it in more detail.