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9 answers

I do real estate closings and what happens is that the leases and rents are transferred from the old owner to the new owner at the closing. There would have been two assignments done at the closing; one from the old landlord to the new landlord and one from the new landlord to his lender in case of default. Your new landlord should have been given a copy of your lease but your rights are not affected if he was not.

It's his own fault if he was told there was no lease and he just went "ok" rather than insisting that each tenant sign an affidavit of no lease. He could have also sent a letter saying "I'm buying the building and I have been told that you have no lease blah blah, please confirm".

So ... if your old lease is still in effect, your new landlord cannot raise your rent until your current lease term ends.

2006-11-12 03:11:38 · answer #1 · answered by BoomChikkaBoom 6 · 0 0

It depends on a few things, but the probable answer is "no".

Usually leases run with the land. That means that the old owner made a contract with you for the use of the land, and the new owner has taken title SUBJECT TO your right to use it. There are exceptions, but very rarely does a lease contain language where a sale voids the tenant's rights.

However, assuming you do have such a lease and that it has not expired, there is the issue of proving the lease. It doesn't have to be written, but proving it depends on the old owner being willing to testify to the terms.

If it is written, then the validity is not contingent on the new owner being given a copy before the sale. You can present him your copy, and show him the rent you have agreed to pay, and for how long, and the new owner will be bound by that lease.

The lease precluded the owner from raising the rent during the specified period. The new owner does not step into a better position than the old owner.

2006-11-12 10:38:22 · answer #2 · answered by open4one 7 · 0 0

When you sign a lease you now have a "lease-hold estate" in the property for the term of the lease, which has to be honored by the new property owner. So, if your lease is still under the initial term and has not defaulted to month-to-month then no the new owner cannot raise your rent. However, if the initial lease term has expired and you are now in a month-to-month tenancy then yes the new landlord/owner can raise your rent but may be limited by state,county or city ordinances, such as rent control.

If you are asking to try and determine whether or not you can get over on the new owner by just telling them that the lease is still in effect... I doubt it. He/she probably does have or have access to a copy of the lease because it was probably required for them to obtain the loan. When buying an investment property and you are showing cash flow the lender will ask for a copy of the lease or rental agreement. Besides you would have to go to court to fight the rent increase and show proof that your lease is still in effect.

Whether the previous owner gave him a copy of your lease or not has no effect on your situation. If I were you I would gladly give the new owner a copy of the lease and a copy of your move-in inspection worksheet to ensure that you are not charged for any damages caused prior to your move-in.

If you are cooperative with the new owner then they may favor you as a tenant and try to keep you rather than running you out with rent increases that you can't afford. There are costs incurred to owners when the property is turned and mortgages are still due when they are vacant.

Good Luck!

2006-11-12 13:35:40 · answer #3 · answered by Not Laughing w/ U 3 · 0 0

No, he cannot raise the rent if there is a lease agreement in place. However, do you have a copy of the lease? Because he can claim that the rental agreement was a month to month and justify the raise in rent in that manner. Then it's up to you to prove that you had a lease agreement.

See if you can get a notorized statement from your old landlord stating his recollection of the lease terms and amount. But I think they're working together.

I suggest you either keep a copy of your lease agreement in the future and/or record it at the local county clerk's office so that any potential buyers of the leased property are aware of the lease when they pull title.

Regards

2006-11-12 14:18:46 · answer #4 · answered by Anonymous · 0 0

I would say, and I'm not an attorney, that if you have a copy of the lease, and can present it to your new landlord, that he can not. Your agreement with the previous owner, is binding upon the new owner, for the period of time covered by your lease. A lease is a contract between two parties, and as such should be honored by a third party acquiring the rights to the lease. However you should really consult with an attorney, before going forward.

2006-11-12 10:07:13 · answer #5 · answered by Beau R 7 · 0 0

if your old landlord won't give him a copy of your lease as he was supposed to than the new landlord may require a new lease and if so he should also give you the option to move .... the old lease was supposed to be upheld by the new landlord, but I think the best way for you to find an answer would either be through an attorney (legal aid) or look up "landlord tenant act" on your computer for your state.

2006-11-12 09:54:21 · answer #6 · answered by emnari 5 · 0 0

No your lease does not change from owner to owner. He has to abide by what your lease agreement states with previous owner. Unless he finds reason to believe you broke your lease or are illegally selling drugs or have others living there not included on your lease and if your lease agreement was over the period of time with previous owner. If any of these things factor than they can change it.

2006-11-12 14:01:37 · answer #7 · answered by Anonymous · 0 0

Yep, Your current lease is with your old landlord. You have not signed a lease with your new landlord so he/she can raise or unlikely lower your rent to what ever they want. A good landlord, in my opinion, would honor the current amount you pay for rent when you sign your new contact. But he/she could also go as far as evicting you if they want.

2006-11-12 09:58:51 · answer #8 · answered by Anonymous · 0 3

If you don't have your copy or can get the old landlord to give you one, YES. You are hosed. If they do that to ya be sure and become real nitpicky on every minor flaw you want repaired.

2006-11-12 09:50:07 · answer #9 · answered by Have gun, will travel. 4 · 0 1

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