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Rental Property Sold (New Landlord)

Category: Tenant Rights & Laws Published: Sunday, 05 October 2014 Written by ATA Admin

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Rental Property Sold (New Landlord)

 

If the property has been sold to a new owner and you have an active lease then the new owner must honor the lease which means you have the right to stay until the end of your lease term. The new owner also has the option to offer to buy your lease out which means they would have to pay for the remaining months left on the lease. You should check your lease for any termination clause upon sale of the property. If there is a termination clause then the lease would terminate if someone would buy the property and the above would not apply. 

If you do not have a lease or are renting month to month then the current owner or the new owner could give a thirty day eviction notice which would give you thirty days to move out by.

 

 

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