04/26/2008My landlord is selling the house, I have 1 1/2 years left on the lease do i have rights?
- If I break the lease I would be responsible for the remainder of the rent. What is he responsible for? The letter didn't give me the option to stay just the first option to buy. Which I can't make the purchase.
- Best Answer:Your lease supercedes the sale. If he's selling the home as vacant (i.e. no tenant) then he will need to make you an offer to move out. You should make it to your benefit, though. Do not accept the offer of "Well, if you move, I won't hold you to the remainder of the lease." You should require 2 - 3 months lease amount to be paid to you, in addition to the amount of your security deposit you're due back (based upon the condition of the home).
Now, if he's selling the home with the lease in place, you're stuck there, at your current lease terms, until the end of your lease. The buyer may be buying the lease for that specific reason. Who knows if the buyer will be a good landlord or not, but you will definitely not be evicted without good cause.
Now, don't forget that the buyer may be buying the home hoping that they can buy you out of your lease, also. Don't go easy on them, either.
All of the above depends on whether or not you WANT to be out of the lease. If you do, then I would wait to find otu what either the Buyer or the Seller wants, and if they're looking for you to go, just ask for your full security deposit back and tell them you'll be out in 2 weeks. Then everyone will be happy.
PS - as a note to Wareagle30, you are incorrect on your information. The lease completely supercedes the sale. The lease is on the property, not on the Seller. The buyer has no rights to just evict the tenant because he/she wants to.
- Answer:Hi
You will need to check your tenancy agreement/ contract and see if you have a break clause in your tenancy. If you do your landlord does have rights by giving you two months notice asking you to leave and you can give your landlord a one months notice. If you don't have a break clause this means you will be liable for the rent and responsibile for the property such as damages ETC.And your landlord isn't allowed to serve you notice till your tenancy is due for a renewal. Always make sure you get your deposit back as the states now a 14 day period.
good luck
- Answer:Remember your lease is between you and your landlord to occupy the dwelling named in the lease. If the dwelling is sold the lease becomes void. This does not mean you must flee the home immediately. Odds are if an investor is looking to buy the home the main appeal is that its already rented. If the new owner wants to live there they would either have to offer you compensation to leave voluntarily or evict you from the home through the courts which is expensive and lengthy. Even without a lease its your residence and you would have to be removed fairly.. Odds are your worrying about nothing. Like i said the main appeal will be that the house is already rented and the new owner would have to do nothing more than manage the property.
**Note to Ross below. Do your research before correcting someone who does this type of work for a living. Yes I am licensed to practice law. I dont go to your job and mess with your paper hat now do I ? If it will help I can post the contract i drafted and use for rentals if it helps**
- Answer:If I were you, I'd consult with an attorney and QUICK. I don't know what your state laws are, but your attorney will. I can't offer legal advice because I'm only a law student, but I can stress the importance of getting help EARLY. If the new owners are the rightful owners of the land, all you may have are contractual remedies against the previous landlord, which won't help you in your current situation because you need housing.
[This message does not provide any legal advice and you should consult an attorney for your legal problems]
- Answer:wareagle, I am assuming att means attorney and you say you are a re investor. If that is so how can you be so wrong.
The lease is on the property, it will transfer with the property. You cannot just force somebody out of their home. Tenants have rights too, in some cases they have more rights than the owners. This is one of those cases.
This is a common question on most real estate exams, maybe not that common in law school or re investors school.
Wareagle:DON'T email me anymore. No I don't want one of your contracts, they would only get me in trouble.
- Answer:Do you have a written lease?
If so, your landlord AND the new owner has to honor the remainder of the lease, unless your lease states that your landlord can terminate it for cause of sale.
If you have no written lease, then all he has to give you is a 30 day notice.
- Answer:Your landlord can not force you to leave before the sale, unless you do not allow showings.
After the house is sold the new owner has to honor your lease, UNLESS they wish to reside there themselves. They will have the right to live in it themselves.
As far as breaking the lease now, yes, you could be held responsible, but most landlords understand your position and will work with you.
- Answer:he will need to compensate you for breaking the lease, if he sells the house, or he will need to sell the house as having a lease.
don't leave though. you have a contract.
if he breaks it, you have legal rights to obtain compensation.
- Answer:'check your lease for if sold ,if it don't have anything about selling the house the new owners has to buy your lease as if a company buying debt.but to be on the safe side check with a lawyer.
- Answer:if your lease says u still have 18 months on it,then he cant just kick you out because he wants to sell it. HOwever, if you leave break it and you leave, you will be liable for rent