If the property owner fails to make loan repayments on their rental property and defaults on the mortgage, the lender (mortgagee), usually a financial institution, may take possession of the property.
The Notice to vacate from mortgagee to tenants informs the tenant that the mortgagee (or appointed person) will be taking possession of the property.
This notice must be signed by the mortgagee (or appointed person) and given to the tenant at least 2 months before they must move out.
The agreement ends on the day the tenant vacates the property, and rent must be paid up to and including that day.
The tenant may be asked, in writing, to pay rent to the mortgagee instead of the property manager/owner.
The tenant must move out by the date stated on the notice or further action may be taken by the mortgagee.
|Form 19 – Notice to vacate from mortgagee to tenants
Current version: v3 Dec20