I am wanting to buy a house and the owners of the property have given the current tenant a 12 month lease, I would like to buy the house to live in it and i have approached the tenant who has stated that she is not willing to leave until her lease is over. The thing is I can not afford to keep renting and start paying off the new home. Is there some type of clause that would allow me to give the tenant notice as the new owner, or does the current lease stand even if the title to the home changes. I really would like to buy this home as there is nothing else in my price range. Can any one give me some advice PLEASE because I feel i am stuck between a rock and a hard place!
2006-08-23 11:58:19 · 23 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If you are the new owner, I believe you can do anything you want. Ask a lawyer in your area first though... every county, city, state, etc... is different.
2006-08-23 11:59:41 · answer #1 · answered by Anonymous · 1⤊ 2⤋
A lease is a contract. The contract is with the owner of the house and the tenant and not with you. If the owner sells the property, they no longer have the right to lease the property (ie the contract is no good anymore). They do not have a contract with you.
The tenant may not be willing to leave until the lease is over but that lease IS over the moment the property is sold (unless there is some sort of law or clause in the contract that forbids the sale). You should tell the owner of the property to make the tenant aware of this fact (ie that they do not have the option to stay) and make them vacate the premises long before you close escrow. Further, you should insist that the house be cleaned by the tenant and/or owner and send a professional house inspector over there to make sure the property is as promised (this is standard in buying any house).
Now, you COULD technically, purchase the house and serve the tenant with an order to vacate and if they refuse, send the cops over there to arrest them as a squatter. But, you can expect an expensive lawsuit (which they will lose), possible damage to the property (for which you do not have access to the security deposit to cover) and alot of drama and nonsense. But, why hassle with that? It's the sellers responsibility to handle all that stuff, not yours. If they won't do it, you should walk out on the deal.
2006-08-23 12:08:05 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends on the law where you live.
Where I live, the only shot in Hell you would have of getting a tenant out of a single family house is if they 1) died 2) failed to pay their rent 3) caused some serious damage like burned half the place down on purpose or 4) they voluntarily signed a consent to vacate order in return for you paying them a big pile o'cash.
If a property in New Jersey falls under the protective umbrella of The New Jersey Anti-Eviction Act, all the tenant has to do is keep paying their rent on time and they probably aren't ever going to have to move unless they feel like it. There are very limited circumstances where an owner can get the tenant out, and frankly most owners screw it up.
You need to see if your state has similar laws, and you need to find out exactly what the law is in your area.
You really should have addressed this issue in the sales contract by having a condition be that the property be delivered vacant.
I do real estate closings, and I can't even begin to tell you how many times I have seen instances where the buyer finds out that he or she has no legal right to occupy the property. It's sad, but it is the buyers responsibility to do their homework and make certain issues like the presence of a tenant are addressed.
2006-08-23 12:26:19 · answer #3 · answered by BoomChikkaBoom 6 · 0⤊ 1⤋
I know that in California, When you buy investment property that is occupied, you have the RIGHT to either raise the rent immediately, thereby nullifying the previous lease, or serving a 30 day notice to vacate. you can raise the rate by 3% every year and if the property is in the city limits of Los Angeles, there is a cap. If your property is County, Meaning outside the city ordinances, THERE IS NO RENT CAP!!! You could charge what you want, really and that may send the folks packing, or just file papers. you will find that the eviction process is costly, and you should avoid if you can. I would have a contigency addendum (an addition to the contract that guarantees the sale ONLY if certain things are done first), stating that BEFORE the end of escrow, the premises MUST BE EMPTY! , VACATED! WITHOUT DAMAGE TO PROPERTY! That way, it is not your problem, and no coins out of your pocket.
I have had the good fortune of learning certain things by trial and error, and by asking questions! good luck, and I hope this helps.
2006-08-23 13:56:53 · answer #4 · answered by bigmama_la 2 · 0⤊ 1⤋
Simply put - no, you can't force her to leave.
I worked in a real estate office in Queensland for a while and if the tenants are on a lease the property needs to be advertised as an Investor Property. When people enquired about buying it we needed to clearly tell them how long before the tenants lease was up. They were welcome to put an offer to the tenant which usually involved paying for their relocation expenses, however if the tenant did not want to move then there was nothing which could be done.
The tenancy authority is very clear on this
http://www.rta.qld.gov.au/selling_the_premises.cfm
I am sorry to say but it looks like you will need to keep house hunting.
2006-08-23 12:45:12 · answer #5 · answered by kimberhill 5 · 0⤊ 0⤋
If you're talking about outright purchasing the home (not some lease-to-buy situation or similar), it's open and shut.
The lease is between tenant and previous owner and becomes an invalid contract the minute the previous owner no longer owns the home. You can ask them to vacate immediately.
However, if you're having issues with the tenant, it's time to get legal advice, talk to the local police or sheriff. Should be very fast and easy to get this over with so you can move in.
2006-08-23 12:01:15 · answer #6 · answered by Timothy W 5 · 0⤊ 1⤋
A lease is a legal contract conveying interest in real property. The purchase and/or transfer of real property does not void the lease agreement nor can the new owner increase rent as someone else stated. You have to honor the lease agreement and you're only option is to bribe the tennant to move or wait until the lease term is up.
Regards
2006-08-23 19:41:55 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Where I live in SC state law requires that all leases be honored if the property changes hands. We really liked a house, but there was 8 months left on the lease, so we found a different house.
2006-08-23 14:06:05 · answer #8 · answered by Sharingan 6 · 0⤊ 0⤋
get your hands on a standard lease agreement...
there is a clause which states that if you purchase the property as a vacant property the tenant must be given a specific amount of notice and must leave...
and this head ache is that of the present landlord to rid the house of the tenant...
do check with the tenancy tribunal board about these facts before proceeding....
2006-08-23 12:55:09 · answer #9 · answered by wollemi_pine_writer 6 · 0⤊ 0⤋
It definitely depends on where (what state/county/city) this property is.
The fact that you are buying the house for your primary residence helps a lot in trying to break the lease, but in many cases, you would need to wait it out or offer a financial incentive.
If all else fails, remember that the tenant would be paying rent to YOU, so you would not be "double-paying"
2006-08-23 12:06:57 · answer #10 · answered by Anonymous · 1⤊ 0⤋
You have to keep renting until her lease is up because it was in the sale agreement (ask your solicitor) but in any case the money you get from the tenant will go towards your rent so its all the same. Your solicitor would have known about all of this he just forgot to tell you.
2006-08-23 19:36:53 · answer #11 · answered by Anonymous · 0⤊ 0⤋