If a rental property is soldn does the lease with the tenant become void?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If a rental property is soldn does the lease with the tenant become void?
Asked on March 5, 2012 under Real Estate Law, Maine
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
No, ordinarily the lease remains valid and enforceable. The new property owner takes the property subject to the lease and steps into the shoes of the old landlord--the new owner becomes the landlord, under the terms of the lease.
It would be possible to have a lease which specifically stated that it would be terminated by the sale of the property, but this term would have to be in the lease at the outset, so that in executing the lease, the tenants would be accepting/agreeing to that term, too.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.