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Generally, the sale of a property does not automatically void an existing lease. The new owner typically inherits the lease and must honor its terms unless specific provisions allow for termination. However, the lease agreement itself may contain clauses that address what happens in the event of a sale, so it's essential to review the lease for any specific conditions. Tenants should be informed of the change in ownership and any implications for their lease.
What else can I help you with?
What is the difference between a perpetual lease and a sale deed?
A lease is the written agreement under which the property owner allows the tenant to use the property for a period of time in exchange for the payment of rent. A sale is an agreement in which property is transferred from a seller to a buyer for a fixed price.
Can a landlord evict a commercial tenant on a year lease if the building sells to a new owner?
Review your copy of the lease for any language that may void the lease if the property is sold. If there is no provisions to that effect then the new owner should take the property subject to your lease. You may need to speak with an attorney to determine what your rights are.
What does it mean when property information includes this phrase Seller is related to the licensee?
The seller is related to the agent listing the property for sale or lease.
A sentence with the word null and void?
This personal cheque has been stamped " Null and Void " by the bank because the account has been closed long ago. The lease was declared null and void because both co-owners of the leased property had not signed it.
Is a lease void if the tenant signs it a month before filing a bankruptcy petition the petition is filed 4 days before the occupancy specified in the lease and this was never disclosed to landlord?
The leae is entirely effective and subject to the BK. The terms of the lease make it so the property is provided at a later time, but the lease, as a contract and promse to furnish and a promise to pay for that property is in effect.
Can real estate force you to sign another fixed term lease after first one has expired. Property is for sale.?
If you won't sign the lease the owner can force you to vacate the premises.
Can a sale contract be void if the dates are not correct on the contract?
Generally not. Such a simple error would be considered a scrivener's error, and not be grounds to void the agreement (in most states). Some states have statutes of frauds which require that certain information be correct regardless of any theories of error. See the Related Links below.
When you have a signed rental property lease and received a notice of auction for sale after leasing for two months is that fraudulent inducement from the landlord?
Some states have laws that preserve a lease (like, for a year, not month-to-onth) after a sale. There is a strong legal argument that if the buyer was aware of the lease at the time of the sale, he is bound by it. But, no, unless the lease says that he can't sell (and, I've never seen one that does), nothing prohibits the landlord from selling.
If your landlord has a section in their lease that is not something that is legal for them to do does that void out your whole lease?
Normally only that illegal item is voided from the lease.
What happens to a written lease agreement when the land owner conveys the land to another person?
If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.
Explain different types of lease agreement?
A sale and lease back agreement is when one buys something from one party, and then turns around and leases it back to that person. A month to month lease is when one leases property on a monthly basis.
Can you be on a lease for a property without actually living there?
Yes, you can be on a lease for a property without actually living there. Being on a lease means you are legally responsible for the terms of the lease, regardless of whether you reside at the property.
