Okay here's my question, I was going to rent a house from Remax ( I paid the dep. & signed the lease) then the owner decides that he wants to sell it & not rent it. Can they legally do that when I have already signed the lease? I know if I had signed the lease & paid the dep. & then I would back out I would be in trouble. What can I do?
2006-08-17 01:00:43 · 14 answers · asked by 3m 2 in Business & Finance ➔ Renting & Real Estate
If both you and the owner/lessor signed the lease, then you have a binding (on both sides) contract, and you as lessee have what's called a leasehold interest in the property. This means that the owner can sell, but the sale is subject to the leasehold interest--the property is encumbered, and new owner has to honor your lease. Read your lease agreement carefully, it could have a clause permitting cancellation without penalty on sale of property.
If only you (not owner) signed the lease, then you had no contract, and owner could simply return your deposit and forget it.
2006-08-17 01:08:37 · answer #1 · answered by Jamestheflame 4 · 1⤊ 0⤋
If you and the owner have signed the lease you have a contract. The owner will need to follow the State law relating to the state's land lord - tenant act and give you the required notices to terminate the lease according to the act. In the meantime the owner can indeed sell the property but must disclose the fact that the sale is subject to your lease terms and the new buyer must adhere to such terms if the lease is in place. Of course you can always make an offer to purchase the property by doing a rent to own offer.
2006-08-17 08:54:27 · answer #2 · answered by newmexicorealestateforms 6 · 1⤊ 0⤋
If your lease was notarized (all leases should be to make them enforceable) and signed by the Owner and the lessee (you), then yes, it is illegal, but most people never take any legal retaliations. I have heard of property Owners selling a home to an investor who is willing to buy the home occupied and continue the terms of the existing lease. That is one option you can discuss. Unfortunately, since you have not actually occupied the property or paid "rent", there isn't much you can do but small claims court if your deposit is not refunded to you. You can make a formal complaint to your local Profession Realtors Association against the Remax Agent who leased you the property as well as the Office of Fair Housing and Equal Opportunity. If you decide legal action, you should also take into consideration the estimated amount you lost on moving (if any- i.e., moving trucks, etc.), giving your current Landlord notice and nay deposits you lost out of your current place as well as any cost that you incurred looking for another home to lease. www.hud.gov/offices/fheo/index.cfm
2006-08-17 08:27:27 · answer #3 · answered by Robin R 2 · 1⤊ 0⤋
Did the home owner sign the lease also? If they did then they would have to let you have the house for the time of the lease
agreement. Even with them taking the money should be enough
to make them (Remax) stick to the contract. They know the laws about all of this and they may be trying to get you to buy the house. If you really want to rent the house, then tell them you will take this to your attorney. Good luck
2006-08-17 08:11:40 · answer #4 · answered by Bethany 7 · 0⤊ 0⤋
I'm pretty sure they cannot do that if you've already signed the lease. I mean, I know that if a tenant has already signed a lease and is faithful with payments, the landlord/owner cannot just kick him out of the building unless the lease's over. Don't know what you can do to resolve that, but you should call an attorney.
2006-08-17 08:07:32 · answer #5 · answered by ATWolf 5 · 0⤊ 0⤋
Many states have a 3 day cancellation period or a lease may have a clause that says the lease does not become final or binding for 3 business days.
Did this happen during that time?
If neither your state nor the lease addresses the cancellation issue, you have a binding lease. He can sell the property if he wants ... with you in it as a tenant.
2006-08-17 08:06:37 · answer #6 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
You say that you signed the lease and paid, but I think if it allowed to him to sell the house, he must inform you earlier so you can find another place, and he should return you money, that you paid. And it depends on the duration of the lease. Also he can sell it if you renting the house for illegal stuffs
2006-08-17 08:15:42 · answer #7 · answered by faolib 1 · 0⤊ 1⤋
First you should take a look at the lease agreement that you signed. Otherwise they have the right to sell it, and may or may not have to refund you.. Depends on what the lease says...
2006-08-17 08:09:35 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Yes, he can legally do this. You however are legally entitled to your deposit since you didn't back out of the deal. You can either try and convince him to allow you to rent the home while he is trying to sell it or take your deposit and find another rental. I personally wouldn't want to rent while listed on the market for sale because every tom, d**k and harry will be coming in and out of your home to view it and you'd need to make sure it was in showing order at all times
2006-08-17 09:32:07 · answer #9 · answered by purpleama456 4 · 1⤊ 0⤋
of course. your lease is secondary and not a controlling factor in ownership. an owner can sell their property at any time thus negating your tenancy, unless the next owner decides to honor your lease and continue to allow you tenancy.
2006-08-17 10:02:01 · answer #10 · answered by nate 2 · 0⤊ 0⤋