What are my rights if I signed a 2 year lease and now my landlord wants to sell the house before the lease is up?
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What are my rights if I signed a 2 year lease and now my landlord wants to sell the house before the lease is up?
Asked on May 23, 2012 under Real Estate Law, Illinois
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You have the right to continue your lease: when a landlord sells a property that is being leased out, in whole or in part, the purchase buys it subject to the lease(s). The buyer in essence becomes your new landlord, under the same terms as the old landlord (i.e the lease is still in effect). There is no way to sell the property without your lease still applying unless (1) you agree to terminante the lease (the old landlord or new could offer you something in exchange for you agreeing to terminate the lease); or (2) there was something in the lease itself stating that it terminated on sale of the home, or allowing either buyer or seller to terminate at their option.
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