When do I have to vacate if my landlord sells the house?

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When do I have to vacate if my landlord sells the house?

Here is the little nuance in the question – our lease to set to expire in August and we worked out an additional  years all done by e-mail, with increase in rent which he agreed to. Now 2 weeks later he states he would like to sell the house. Is the extension valid and we are current and and no money is owed to him?

Asked on February 12, 2011 under Real Estate Law, New Jersey

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

1) If there has been an extention or renewal of the lease agreed to by both parties--including negotiated and demonstrably agreed to by email--then that agreement is in force and binding on both. Therefore, the extension, if both parties have agreed to it (e.g. its not still going "back and forth" in negotiation or pending final agreement) is valid.

2) The fact that a landlord has expressed a desire to sell the house has no impact.

3) Even if the landlord does sell the house, he will sell it subject to all in-force leases and other contracts. Thus, the new buyers will  have to honor the lease, too. (N.B. foreclosures are different than sales--foreclosures terminate the lease.)


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