We have a lease and the landlord has put the house up for sale what are our rights?

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We have a lease and the landlord has put the house up for sale what are our rights?

We have a lease until May of 2020 our landlord has decided to sell our house and it goes on the market on Monday. What are our rights? We have found a place we would like to try to purchase but cannot jump on it as we do not know our rights and tenant? Can the landlord just expect us to move out once our property sells? Do we have rights to find a new place to live now??

Asked on February 24, 2018 under Real Estate Law, Wisconsin

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Ok so this is a double edged sword. The sale of the property by the landlord does NOT terminate your lease.  The new owner buys it "subject to" the terms and conditions therein.  So you can stay until the end of your leasehold.  Now, the double edged swrod is this: YOU are also subject to the terms and conditions menaning you can not just leave, that would be a breach of the lease.  So here is what I would do: keep looking and trying to figure out how you can purchase the property that you want to buy but say nothing to your landlord.  When you find the property and everything is worked out (like yo have financing in place and it is a go for purchase) ask her if she wishes to terminate the lease so she can sell it vacant.  Then if she says says yes, do an agreement to terminate the lease and have you go on a month to month basis.  Then you have to give 30 days notice that you are leaving but you run the risk that the landlord can give you the same notice.  So be careful.  Good luck.


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