Anonymous

Can Your Landlord Sell Their Property In The Middle Of Your Lease?

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7 Answers

Anonymous Profile
Anonymous answered
They can sell but you don't have to move. When your landlord sells the rental property where you live to a new landlord, the new landlord takes the property subject to all rental agreements already in effect, written or oral. Your original lease remains valid, and does not terminate at the time of the sale.

The one exception to this rule is if your lease agreement contains a statement that your lease will terminate (generally upon 30 days notice) if the property is sold. These types of clauses are sometimes included in lease agreements by landlords who are planning to sell the property during the term of the lease, or by real estate agencies that are temporarily renting the property until it can be sold. If you want to be guaranteed that you can stay in the rental property during the full term of the lease, you should not sign a lease agreement that contains a termination clause in the event of a sale.
samual answers Profile
samual answers answered
Yes they can but they also will have to void the lease you now have holding you harmless for the remainder of the rent. They also need to give you time to find a new place, give you back the security so you can use it on a new place.
PRINCESS MONTICELLO-MONCRIEF Profile
If he/she has it stipulated or noted in the original lease agreement he/she can Yes, and when they do have it stipulated they will usually indicate in it that the new Owners will be your new landlord upon the sale of the property. Check your lease and see if anything is mentioned regarding the sell of the property with new ownership. If so, then yes he/she can; but if it's not indicated in the lease agreement that you signed with your landlord; then No they are not suppose to sell it before your lease is up.
Anonymous Profile
Anonymous answered
If the landlord puts up the property for sale does that break the lease?
Anonymous Profile
Anonymous answered
Yes he can, the lease is transferred to the new owner. Just be sure they are aware of the condition of your apartment, or the new owner could get you for damages.
Tom  Jackson Profile
Tom Jackson answered

Here's a good overview of this fairly common occurrence:

http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_content&contentID=7630

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