My building is being sold, and I have a 1 year lease, which has 6 months left on it. If the building sells, and the new owner wants to break my lease, can they? What rights would I have? Please no ads for legal services, experienced answers only please.
2006-12-08 08:10:12 · 7 answers · asked by anon 1 in Politics & Government ➔ Law & Ethics
Not exactly. When a building is bought by another person - that person "assumes" the leases of the current tenants. Which means he (1) honors them and (2) receives the subsequent income from them. So usually, building buyers are really happy you are there. Sometimes though, unethical people break their contracts. Your contract is with the current landlord, if something consequently happens to dispossess you of the property you can sue for the following things - (1) the difference between the new rent you will have to pay versus what you paid (only good if you end up paying more money in new rent) for the time period of your old lease and (2) the reasonable expenses incurred in moving and finding a new place. Oh yea - you should also get back any security deposit. Good luck!
2006-12-08 08:15:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The new owners take over the leases along with the property. Usually they give you the option of ending your lease whenever you want when they do not intend to continue renting out the apartment. They are under no obligation to offer you a new lease once the current one has expired, whether they will still be using it as a rental or not.
If you do sign a new lease with the new owners, be sure to do a walk through of the property to close out your old lease according to that lease's damage responsibility rules and begin anew with a new walk-through with the new lease. Sometimes with the new lease you will end up having to pay for damages that you wouldn't have under the old lease.
2006-12-08 08:30:11 · answer #2 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
Your signed lease is to be abided by for the remaining 6 month term. The only way the lease can be broken under the new owner is if you have broken a "reason to evict" clause within it.
The only other way that you would be expected to move is if the unit itself was to be used as a residence for the owner....the owner MUST live within the unit himself, phsically, otherwise you would then have grounds for a lawsuit. Further, proper notice to you would be required in order to allow you ample time to locate proper replacement housing.
As it stands, the building exchanging ownership does not give authorization to the new landlord to evict you or to cancel your lease.
This isn't just the law in NYS it's basically a law across the board and is followed by any landlord who is in the business of operating within the boundaries of the Tenant and Landlord Acts and wants to keep good tenants in his building.
As long as your lease is a legal one now...there is no reason to be concerned. If you should still feel bothered by this sale, contact your Landlord and Tenants Association ...(yellow Pages) and they can inform and confirm further.
2006-12-08 08:23:39 · answer #3 · answered by dustiiart 5 · 0⤊ 0⤋
In NY City you are protected by the rent control & stabilization laws. Outside NYC the buyer takes subject to your lease unless there is an automatic termination in the event of sale (which is rather rare).
2006-12-08 09:14:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋
confident. in case you bypass away state lines and the owner comes to a decision to sue, he could have you ever "served" (notified which you're being sued) with an order to seem in his state. in case you do no longer seem, the owner gets a "default judgment" - meaning he immediately wins his case. whether it relatively is a small claims case ($3,000 to $5,000 declare - observing the jurisdiction) and you do no longer take place, the courtroom many times won't subject a bench warrant on your arrest, yet will in basic terms enter the default judgment against you. next, you would be ordered to pay the judgment in finished interior 21 to 30 days (back, observing the regulations of his jurisdiction). in case you do no longer pay interior this time-physique, the owner can pass to the collections element of the judgment. He might settle directly to employ a collections organization to bypass once you - that would finally end up garnishing your wages, seizing money on your economic employer money owed, intercepting state tax returns, or different series treatments as approved with the help of regulation. salary garnishment - varies with the help of state. some states (which includes Texas) restrict garnishing wages alltogether. maximum jurisdictions enable the garnishment of wages of as much as twenty-5 % of your income. the best element of do could be to get in touch alongside with your previous landlord and make charge preparations. in case you do no longer, your credit will ultimately get ruined and your life would be made a residing Hell. in maximum circumstances, the plaintiff has seven years to assemble the debt, and your credit would be ruined the completed time. So except you do no longer plan on procuring a automobile, renting an house, casting off a private loan, beginning a sparkling credit card, or making use of for any interest or something that demands a credit verify for the subsequent 7 years, this might hang-out you for years yet to return in case you do no longer shield it. stable success!
2016-10-14 07:07:27 · answer #5 · answered by trinkle 4 · 0⤊ 0⤋
There is a tenants rights guide on the search engine if you google "tenants rights new york" it will pop right up for you it has a lot of info for you.
2006-12-08 08:14:26 · answer #6 · answered by tigerlilliebuick 3 · 0⤊ 0⤋
can new landlord evict saying we owe previuos owner back rent even though we are paying him on time with rent
2014-11-26 04:28:45 · answer #7 · answered by Wizard 1 · 0⤊ 0⤋