My building was sold to a company i do not want to rent from. I reread my lease and there is nothing stating that the lease is transferable? can i get out of it?
2007-11-08 06:36:51 · 5 answers · asked by Kelly 1 in Business & Finance ➔ Renting & Real Estate
clauses about transferring the lease means YOU, the lessee transferring the lease.
When real estate changes ownership, the new owner is obligated to the current terms of all lease contracts in effect, unless a new lease is drawn up and signed by both lessor and lessee which will supercede your first contract.
Read your lease contract. You have the right to terminate your lease early, but the contract should tell you the consequence (like forfeiture of your security deposit, etc)
2007-11-08 06:51:11 · answer #1 · answered by Jeffrey F 6 · 3⤊ 0⤋
The former owner transferred the lease to the new ownership at the time of purchase. Your lease contract need not mention transerability in order for it to occur between owners.
You are bound to the lease terms, as signed originally.
2007-11-08 07:42:40 · answer #2 · answered by acermill 7 · 2⤊ 0⤋
NO you can't break your lease because of this.
Read the lease. It should have a clause that the lease is transferrable to new owners.
In addition, the new company can't end the lease.
2007-11-08 07:43:06 · answer #3 · answered by Anonymous · 2⤊ 0⤋
Unfortuantely, no, not for that reason. You can always talk to the company and ask to be released. For a complete list of your rights get the landlord tenant act information from your library, HUD, or courthouse.
If you are tired of renting go to www.networthopportunity.com and email me back with any questions. I think it will knock your socks off.
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2007-11-08 06:45:48 · answer #4 · answered by Robert V 1 · 1⤊ 1⤋
yes,you can,once the building is sold,there is nothing binding,just leave a letter and leave at once
2007-11-08 07:46:01 · answer #5 · answered by Anonymous · 0⤊ 2⤋