If my landlord is selling the house, can the new buyer terminate my lease before the lease is up?

Question

i live in the upstairs apartment of the house and she is selling the house

Answer 1

Yes. The new LandLord(Buyer) is not bound by any legal or mutual contracts that existed with the old owner. He has to enter into a new contract with you. What you need to remember is that the new Landlord needs you as well. So no need to worry.

Answer 2

if you have a written lease, even if you occupied what would be considered as an illegally converted attic to apartment, you cannot be forced into moving. the buyer takes the real estate, in all deals, subject to existing leases and tenancies. that means that each and every word in your lease is a contract that then goes to the new buyer. so does your security deposit, to be given back to you by the buyer when you vacate your apartment in good order.

if you did not have a lease, but instead had a month to month tenancy, either you or the buyer could break the tenancy by one sending to the other by registered (don't use certified because nobody HAS to accept certified mail) mail a letter that states that he will leave (or must leave) the premises within 30 days from the date of the letter.

good luck! maybe by your good cheer and helpfulness, the new buyer will like you enough that your rent will not be raised much because of your solidity as a tenant. and cleanliness and paying on time always helps.

Answer 3

Typically, when income-producing property is sold, the existing leases are assigned to the buyer as part of the purchase/sale. This means that the buyer has to honor the terms of the lease. That said, the new owner need not agree to continue with the lease but to do so, he/she would have to give the tenant notice of his intent to do so, as prescribed in the lease. For month to month tenancy arrangements, the buyer/new LL can elect not to continue with the tenancy by simply refusing to accept rent. This serves as notice to the tenant to vacate within 30 days.....

If you are seriously concerned, best thing is to ask your current LL of the buyer's intenttions vis-a-vis your lease and whether you can get a letter singed by the buyer that he has accepted assignment of the lease and will honor the terms until termination.......

Answer 4

The first answer is TOTALLY wrong. The new buyer cannot arbitrarily end your lease; he buys the lease along with the property. He can offer to buy you out of the lease, or just wait till the lease ends and not renew, but he bought you as a tenant.

Also, the new LL is the person responsible for your security deposit, not the old one. The buyers often forget that in the sale and then try to dodge their responsibility.

Good luck.

Answer 5

I read some totally correct information up there.

A lease is a lease ... and it doesn't expire because the person who made it is selling.

In many states, the owner of an owner occupied two family house has many additional rights when it comes to landlord/tenantcy (as opposed to landlords of larger non owner occupied units) but still ... the new owner will have to honor your current lease. The lease transfers with the property. After the lease is up, of course the new owner will get to put his or her own lease in play if they decide to keep renting to you.