2007-11-24 09:33:08 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
No. When you purchase a property with a lease attached to it, under real estate law, the lease comes with the property.
You are, however, under no obligation to RENEW the terms of the original lease.
Once it expires, it's fair game.
That is why when you purchase a property with a lease, you have the right to view all terms of the lease.
2007-11-24 10:15:51 · answer #1 · answered by Expert8675309 7 · 0⤊ 0⤋
No, the lease runs with the land, if it is signed by the landowner prior to the date of sale.
2007-11-24 09:41:32 · answer #2 · answered by LUCKY 4 · 0⤊ 0⤋
Rose has it right. The terms of the lease can only be changed when it expires.
2007-11-24 09:51:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋
...But if the owner made other arrangements as part of the purchase, and it is legal in your state, you may have an issue. I would check with an attorney. They will usually consult for free.
2007-11-24 10:12:02 · answer #4 · answered by Alterfemego 7 · 0⤊ 2⤋
consult state laws. google will help you find them.
in some states, the answer is no, in others yes, and in others it depends.
2007-11-24 09:41:05 · answer #5 · answered by Spock (rhp) 7 · 0⤊ 2⤋