N11The N11 Form is a mandatory document that must be completed when both the landlord and tenant mutually agree to terminate the lease. It is especially important for landlords planning to sell their condos. To proceed with the sale of a property where a tenant is residing, the landlord must first obtain the signed N11 form to ensure the transaction proceeds smoothly.
In the real estate market, the term “CASH-FOR-KEY” is being used more frequently. This refers to situations where a tenant requests financial compensation in exchange for vacating the property and handing it over to the new owner. This can lead to conflicts between landlords and tenants, and to prevent such issues, it is crucial to formally proceed with the lease termination through the N11 form.
Why the N11 Form is Required
Completing the N11 form helps prevent legal disputes between the seller and the buyer and ensures that the tenant vacates the property smoothly, allowing the property sale to proceed without delays. Lease termination must be handled clearly to avoid unnecessary conflicts.
Eviction Procedure Following the N11 Form
After the N11 form is signed, the landlord can legally request an eviction order. The eviction date will be the agreed-upon lease termination date between the landlord and tenant.
Moving Procedure
The tenant must vacate the premises and remove all personal belongings by the agreed-upon eviction date. If any personal items remain, the tenant forfeits their rights to those items, and the landlord can dispose of them.
No Coercion in Signing
The landlord cannot force the tenant to sign the N11 form. If coercion occurs, the tenant is not obligated to vacate the property under the agreement.
Exceptions
The landlord can request the tenant to sign the N11 form under the following circumstances:
- The tenant is a student living in school-provided housing.
- The tenant is living in a rehabilitation or care facility, and there is an agreement for the tenant to vacate after achieving treatment goals, with a maximum stay of four years.
Importance of Keeping a Copy of the Agreement
Both the landlord and tenant should keep a signed copy of the N11 form. This is an essential step to prepare for any potential disputes that may arise later.
