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Can condo owner sell while tenant has lease that is not expired?

Started by chimpwolf
almost 17 years ago
Posts: 21
Member since: Jan 2009
Discussion about
With all of the condo conversions going rental, can a condo owner sell while there is an active tenant with a lease? If the condo gets sold before the lease expires, what happens? I did not see any provision for this circumstance in the lease.
Response by sjbh
almost 17 years ago
Posts: 90
Member since: Feb 2009

If the condo gets sold you have a new landlord.

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Response by anonymous
almost 17 years ago

Yeah, your lease may give that right. That is why you should feel free to negotiate provisions of any contract, especially if the owner is just like you, an individual, they feel less leverage than the big rental guys.

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Response by dwell
almost 17 years ago
Posts: 2341
Member since: Jul 2008

ya gotta wait for the lease to expire, unless lease has a clause allowing lesser to terminate due to sale (as lintin said). If said clause does not exist, then must wait for lease to expire. Sounds like you're the tenant. If they want you to move prior to expiration, have them buy you out, like pay yr moving expenses & broker's fee.

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Response by front_porch
almost 17 years ago
Posts: 5320
Member since: Mar 2008

Usually, the lease overrides but does not preclude the sale - so the condo owner can sell, but the new owner must wait until the tenant's lease expires before moving in.

ali r.
{downtown broker}

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