i have a rental management agrement with a local re office, the business is being sold to a national re company can cancel my management contract without losing my tenent becuase of the change in onership of the company

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i have a rental management agrement with a local re office, the business is being sold to a national re company can cancel my management contract without losing my tenent becuase of the change in onership of the company

i own a rental house in florida and would like to cancel management aggreement
with new owners off the business and keep my relationship with my tenant

Asked on December 27, 2017 under Real Estate Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

No, a change in ownership does not generally provide a basis to cancel a contract, unless the contract itself states that it may be cancelled in this event. Otherwise, you are bound to the contract until 1) it expires or 2) the other side breaches (violates) it in some material (significant) way, which breach would allow you to terminate.


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