QUESTION
Can the lessee of a section of land that we have bought be asked to terminate the lease?
Asked on Jul 21st, 2016 on Real Estate - California
More details to this question:
We bought a lot that has two leases of around 5,000 sqft. that allows the con joining neighbors to have a larger yard. There is a fence up and the lease is for 30 years at 100 a year. This was a friendly agreement between neighbors. However, as the new owners I do not want to continue the lease. The lease states we must give 60 months notice to end it. It also does not state that it transfers with new owners. Is there a law that would protect the lesse if we tried to terminate the lease?
1 ANSWER
You need to have a real estate lawyer review the title to the property, the appearance of the fence and the boundary, both the legal boundary and the lease boundary, and the two leases. There are a lot of legal principles in play. There might be loopholes you could use to undo this unusual arrangement.
It wlll probaby be less expensive if you engage a real estate lawyer who already is familiar with the real estate law regarding leases, boundaries, title and real estate contracts. I am such an attorney.
Dana Sack
510-286-2200
Answered on Jul 24th, 2016 at 10:10 AM