What to if I’m currently living in a rental that was sold and our lease runs for another 7 months but now the new landlord wants us to sign a new lease for a higher rent?
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What to if I’m currently living in a rental that was sold and our lease runs for another 7 months but now the new landlord wants us to sign a new lease for a higher rent?
Can he do that? Is the old notarized lease still valid?
Asked on December 7, 2012 under Real Estate Law, Alabama
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
When a rental property is sold, the new owner purchases it "subject to" any exisiting leases. Ths means that they must honor any valid lease that a tenant of the property has entered into. Accordingly, in your case, your new landlord must abide by the terms of your current lease so long as you are not in breach of it. Accordingly, you are under no legal obligation to sign a new lease and pay a higher rent.
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