What happens when the house I am renting is sold before the end of my lease?

Question

I am currently renting a house with a lease that ends on January 31, 2013. This past weekend my landlord put the house up for sale. If the house is sold prior to the end of our lease, what happens to us? Does the new owner have to honour our lease or can they kick us out?

Carlton C. Casler · Answer

The new owner takes the property "subject to" the existing lease, which   means the new owner must honor the existing lease,  unless the lease includes  a provision that indicates the  landlord can terminate the lease if the  property is sold.

Leonard A. Kaanta · Answer

The new owners have to honor the lease.

Jared Altman · Answer

The new owner must honor the lease.

Gerald Bagazinski · Answer

The new owner would take the property subject to the lease.

Jeffre Crandall · Answer

It depends on what the lease says. If the lease (Contract) is binding on those that follow (transferrees, assignees, or heirs), you are secure untill the end of January, 2013. Read your lease.

Edward Olson · Answer

It depends.  The terms in your lease control here.  Contact an attorney who can review your lease for you and give you more specific advice.

Dennis P. Mikko · Answer

A purchaser would purchase the house together with the lease.  Assuming this is a written lease with a term ending on January 31, 2013, the new purchaser would have to let you remain in the leased premises provided you continued to pay rent and complied with the lease terms.

Michael Stafford · Answer

Absent an agreement to the contrary the new owner has to honor your lease.

Frances Headley · Answer

The new owner must honor your lease and can terminate the tenancy only pursuant to the terms of the lease.

Richard Keyes · Answer

The first thing to do is to read through your lease and see if your lease addresses this issue.  Some leases do.  Normally, your lease should be good until January 31, 2013 but there are exceptions.  Talk to a real estate attorney.

David Blain · Answer

Generally speaking, the new owner would purchase the house subject to your lease. This means that the new owner would have to honor the lease you entered into with the old landlord.  However, there may be situations where the new owner may be purchasing the home for his primary residence. In these circumstances I believe the owner is required to give 90 days notice to the tenant of the termination of the lease.

John T. Wagener · Answer

It depends on what the lease says regarding events of termination. Generally, a new owner would take the property subject to existing leasehold interests. There may also be some local "tenant's rights" municipal ordinances that provide you with protection.

Michael Palumbo · Answer

Nothing they take along with the current contracts

Jon Buchholdt · Answer

The buyer buys the house and the remainder of your lease, and your tenancy will not be disturbed so long as you pay your monthly lease payment to the new owner.

Wesley Poole · Answer

Unless your Lease provides otherwise, the new owner must honor your Lease.

Jeffrey Dworin · Answer

The new owner will be bound by the lease as long as he/she has notice. Constructive notice is given by the fact that you occupy the residence.  If you wish to provide more reliable recorded notice, either record the lease, or prepare and record an affidavit of interest that describes your interest under the lease.

S Hunter · Answer

The new landlord has to honor the lease.

Leonard Schwartz · Answer

The new owner in NJ must honor the lease. They can give you two months notice that they intend to personally occupy it but that notice would not be valid until the end of your lease.

Anthony Roach · Answer

The new owner takes subject to the lease.

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What happens when the house I am renting is sold before the end of my lease?

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