If there are a few months remaining on lease and our landlord said we had to move because the property has been sold, what about our deposits/monies, etc. due?
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If there are a few months remaining on lease and our landlord said we had to move because the property has been sold, what about our deposits/monies, etc. due?
Asked on August 12, 2011 California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
If you have a written lease with a defined term, it doesn't matter if the property has been sold--you can't be forced to move before the expiration of your lease, not so long as you pay your rent and otherwise honor your obligations. (Unless, that is, the lease itself contains some clause or term saying it may be terminated in the event the property is sold.) When someone buys property, they buy it subject to all leases that are then in effect, so the new owner will have to honor the lease--though he doesn't need to then renew it, unless the lease has some automatic renewal clause. (Note: foreclosure is different--foreclosure terminates your tenancy.)
Whenever your tenancy terminates for any reason, you are entitled to your security deposit back, less any amounts you owe for unpaid rent or for damage you, your family, guests, or pets did to the premises.
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