Rent adjustments in case of sale of a multi-unit property

Since rent is payable in advance, on the first day of each month, the parties will have to determine the date of the rent adjustment using section 11.3 of the Promise to purchase or Counter-proposal forms. You must therefore complete this section with the buyer, in order to determine if the rent adjustment will be made on the date of signing of the deed of sale, the date of occupancy, or some other date, depending on what is called for in the promise to purchase. Since the seller has received the full rent payments for the month, he will have to reimburse a portion of it to the buyer. The notary acting in the transaction will make these calculations.