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In the USA, most building owners are allowed to sell their properties, even if they are currently leased. Exceptions may include those who bought the properties through the local or Federal government, and/or have other legal (not necessarily financial) obligations with the local or Federal government to keep the property, at least, until all tenants have vacated, either by legitimate eviction (wanting to sell the property is not a legitimate cause for cancelling the terms of the lease/rental contract) or by voluntary departure of the tenant. When the property is sold, both the new landlord and the existing tenants are usually bound by the currently existing lease/rental contract, but the new owner is free to change the terms of the contract upon its renewal, or even ask the tenants to leave when their lease comes due for renewal; in such cases, the owner is obliged to give "fair notice" to the tenants (n.b., "fair notice" varies between locales; some require as little as 30 days from the time the lease is due for renewal; some as much as a year, as is the case with some apartment properties that "go condo(minium)").
What else can I help you with?
If your rental property is forclosed, will you loose the house you currently live in ?
there is a possibility that will happen becuase it is a rental property not a leased or buying option where you would have more options to keeping if you were a home owner.
What does lro mean for general liability insurance?
"LRO" is short-hand for "Lessors Risk Only". It is designed to protect the property owner of a commercial property leased to others.
What is the name of the mask of light owner on bionicle?
Currently Takanuva. Others have owned it though
What is a sales agreement?
A sale lease agreement states an owner of an asset sells said asset to another party. The asset is been leased by the previous owner so he or she can continue to utilize the asset, though they no longer own it.
What is a Sale lease agreement?
A sale lease agreement states an owner of an asset sells said asset to another party. The asset is been leased by the previous owner so he or she can continue to utilize the asset, though they no longer own it.
What is tenanted areas?
Tenanted areas are spaces that are rented or leased out to tenants for residential or commercial use. The tenants pay rent to the landlord or property owner in exchange for the right to occupy and use the space. Maintenance and upkeep of the property are typically the responsibility of the landlord.
If I agree to purchase a residential property from an owner but that property is currently being leased to someone what rights do I have?
If you purchase this property, you will assume the position of landlord under the existing lease with the tenant. Your rights and responsibilities are determined by the lease and your state's landlord-tenant laws. It is a good idea to talk with a real estate attorney in your area before purchasing this property to ensure that the lease protects your rights and you won't have any surprises after closing (e.g. tenant demands deposit refund, major repairs, etc.)
Can you make payments even though your car is up for a repossession?
Yes you can. The main interest of the financial institution or or owner of the property is to have the property paid for.
If you are paying taxes on a property in Texas does that make you the property owner?
No, paying property taxes on a property does not make you the property owner. Only a properly executed deed naming you as the owner would make you an owner.
What is leased premises?
You can say either (or 'leasehold premises'). Best avoid 'demised premises' when used in a lay sense however, for the reason mentioned in the question and also because it is an unnecessarily technical term for other than legal reasons. (Solicitor)
Who has lumber rights in the land the property owner or the owner of the mineral rights?
The property owner.
Can you have your name on the deed of a property that you are only living in?
Yes. If the legal owner transfers the property to you by their deed.Yes. If the legal owner transfers the property to you by their deed.Yes. If the legal owner transfers the property to you by their deed.Yes. If the legal owner transfers the property to you by their deed.
