In the event of a compulsory acquisition of your flat at Block 97, Orchard Court, here’s what would generally happen to you and your tenant:
1. **Compulsory Acquisition Process**: The government will notify you about the compulsory acquisition and provide details regarding compensation.
2. **Tenant's Lease**: Typically, the lease between you and your tenant remains valid until the property is acquired. However, the acquisition process may lead to early termination of the lease.
3. **Compensation**: You would usually be entitled to compensation for the property, which may cover the value of the property and potentially the remaining rental income for the lease term. This compensation could help you cover the loss of rental income.
4. **Tenant Rights**: Depending on the terms of the lease and the specific laws governing compulsory acquisition, your tenant may also be entitled to compensation or assistance in finding alternative accommodation.
5. **Communication**: It’s essential to keep open communication with your tenant about the situation and provide any necessary updates as the process unfolds.
6. **Legal Advice**: Consult with a legal professional for specific guidance tailored to your situation, especially regarding lease terms and compensation rights.
This situation can be complex, so professional advice is crucial.
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