We live in NY (Queens). We just signed the lease in November and one week in he decided he's going to sell. Our lease will not expire until October 31, 2008. Does anyone know if the new owner has to honor our lease? Or are we screwed?
2006-11-16 07:22:26 · 22 answers · asked by peanut91879 1 in Business & Finance ➔ Renting & Real Estate
If you have a contract, read it thoroughly. You may want to take the document over to a lawyer to make sure; but if you signed a lease and there are no provisions for this type of situation, you could have the right to demand him to honor his word, or at least compensate you for breaking it. Take the contract to a lawyer to maker sure of what your rights are and how you can proceed. Good luck!
2006-11-16 07:24:23 · answer #1 · answered by *Jessy* 6 · 0⤊ 0⤋
Don't worry. The Lease you signed is "binding" on behalf of the new buyer. The only way to get you out is to make you an offer. If that occurs, send out another "Question" - I'll help you. But you don't need to worry. When your landlord placed the house for sale, the Real Estate Agent will have put that in the Agreement. Any prospective buyers - in most cases - will be looking for an "income" property. Sit tight, enjoy your new place. Bottom line, if a purchaser doesn't want a tenant, he will either pay out your lease or Honor your lease. The only way you will Ever have to move is, the OWNER and only the OWNER notifies you that he requires the dwelling for his "immediate" family, and that means exactly that! If I were you, I would talk to the landlord, ask for your money back, and first and last on a new apartment and including moving costs. See how that JOLTS HIM! You do have a case - "deception/misrepresentation"- for he may have already been in the process of selling, and did not disclose that to you. Good Luck!
2006-11-16 07:35:38 · answer #2 · answered by peaches 5 · 0⤊ 0⤋
Yes. Yes. And no.
You have all the rights as a tenant under NY state laws. Once you sign a lease, any new owner in the future will have to honor the lease agreement. The only change for you is when you write the chech for rent, it's under a different name.
When the old landlord sales his property, he also sale the lease to the new owner. If the new landlord don't want you to be there, he is screwed. This question can easily be answered by a tennant attorney.
2006-11-16 09:27:55 · answer #3 · answered by Mark H 2 · 0⤊ 0⤋
The new owner is requried to honor your lease. It transfers with the ownership of the rental. Those who think that your agreement is only with the current owner are wrong.
I had a contract on a house once with renters and the listing agent failed to mention that they had a lease. I had an inspection done-- $400-- and then I come to find out they expect me to own the thing for 6 months before I can live in it.
Can you say NO THANK YOU?
2006-11-16 08:50:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
As long as you have a legal document between the two of you, it must be honored until the end date, or until a condition in the lease allows you or him to terminate early. Read the lease very carefully, if it says something to the effect that he can sell and kick you out, then you are screwed, if not, you can stay.
However, if you resist your landlord like this, he's likely going to make your living there miserable, so you might just want to move...
2006-11-16 07:25:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You have to read the lease, usually there is a provision that states the whether the lease is super ceded by the selling of the property. depending on how the landlord markets the property as either an investment property or as a single family home will make a huge difference on the situation.
Good luck.
2006-11-16 07:34:00 · answer #6 · answered by Krista K 1 · 0⤊ 0⤋
I don't know what's in your lease, nor do I know the laws of your state. In Texas, you'd still have your lease.
Many houses are sold from one investor to another. The leases in effect at the time of closing go with the property. The new owner CANNOT change the terms - time, price, etc.
2006-11-16 07:33:09 · answer #7 · answered by teran_realtor 7 · 0⤊ 0⤋
The lease goes with the house. I bought a home that had renters and I had to honor the months left on their lease. Check with a lawyer if the new owner won't honor it.
2006-11-16 07:25:44 · answer #8 · answered by Everyman 3 · 0⤊ 0⤋
New owner buys the property and the lease.
2006-11-16 07:37:49 · answer #9 · answered by kingstubborn 6 · 0⤊ 0⤋
NJ is an rather professional-tenant state. First, in case you had a 2 12 months hire signed whomever offered the valuables might have additionally offered the hire. the owner could have been merchandising a apartment sources with a tenant and a hire. the reason he asked you to pass is this form of sale narrows the flair shoppers right down to actual sources investors purely and maximum RE investors are in simple terms sitting and arranged for the backside of the actual sources marketplace to hit. regrettably, on account which you moved you enable the owner out of his responsibilities. He additionally enable you to out of yours. The time to barter a fee for him desiring you to go away the hire early grew to become into in the previous you moved. Now which you're out you have no longer have been given any leverage. you're able to have instructed him "specific, i'm going to pass even although I nonetheless have a million.5 years left in this hire. in simple terms pay my shifting expenditures and return my complete secure practices deposit and we will call it even". good success in the hot place.
2016-10-22 05:13:31 · answer #10 · answered by Anonymous · 0⤊ 0⤋