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tenant relocation: Much Ado About Nothing...Tenants and a Sold Building - 05/24/09 06:14 PM
When an income property occupied by tenants changes ownership, what happens to those tenants?
Nothing.
The new landlord must honor the terms of the lease agreement between the previous owner and the tenants.  Change of ownership is not cause for eviction, unless there is a provision in the lease agreement permitting the landlord to terminate the lease upon sale of the property.
A lease is not a unilateral instrument.  Both the landlord and the tenant have to abide by the terms agreed upon by both parties.  If the landlord agrees to rent the unit to a tenant in exchange for monthly … (0 comments)

 

James Engel KW Beverly Hills

Beverly Hills, CA

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Keller Williams Realty Beverly Hills

Address: 439 North Canon Drive, Penthouse, Beverly Hills, CA, 90210

Office Phone: (888) 999-6575

Cell Phone: (310) 985-0985

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