Welcome to Law-Forums.org!   

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Are rental agreements transferable to new owners when a rental property is sold?

Having a dispute with a tenant or landlord? Rental Law discussion

Are rental agreements transferable to new owners when a rental property is sold?

Postby darik » Wed Nov 23, 2011 4:46 pm

I signed a standard month-to-month rental agreement with my former property management company in February 2010. The apartment building was sold in December 2010, and is now managed by an independent property manager. Over the past several months there have been letters sent to all tenants regarding normal issues like parking, plumbing, etc., that reference "as agreed upon in your rental agreement." There have been new tenants since the new owner/property manager took over, however I am a previous tenant and have not signed a new rental agreement. Are rental agreements transferable to the new owner when a rental property is sold? What about my deposit? I left a $700 deposit when I signed the rental agreement. Will I get that back from the new owner when I decide to move? Thank you for your help and feedback.
darik
 
Posts: 42
Joined: Thu Mar 31, 2011 1:00 pm

Are rental agreements transferable to new owners when a rental property is sold?

Postby lazaro94 » Wed Nov 23, 2011 4:53 pm

yeah
lazaro94
 
Posts: 52
Joined: Thu Mar 31, 2011 2:19 pm

Are rental agreements transferable to new owners when a rental property is sold?

Postby kendrix » Wed Nov 23, 2011 4:57 pm

Yes, the lease and the deposits are all transferred to the new owner in an income property transaction. Your lease has not changed, but be aware that they may ask you to sign a new one. In most cases, if you are a good tenant, they will leave everything alone. Your deposit should be safe with the new owner and should be returned to you as long as there is no damage.
kendrix
 
Posts: 49
Joined: Sat Apr 02, 2011 3:43 am

Are rental agreements transferable to new owners when a rental property is sold?

Postby said99 » Wed Nov 23, 2011 5:01 pm

The old rental agreement or lease applies. A lease or rental agreement carries over to a new owner.
said99
 
Posts: 45
Joined: Fri Apr 01, 2011 8:58 am

Are rental agreements transferable to new owners when a rental property is sold?

Postby hurst » Wed Nov 23, 2011 5:18 pm

Yes and since you are a month to month tenant any rent increases and change in rules would apply to you.
hurst
 
Posts: 43
Joined: Thu Mar 31, 2011 2:03 pm

Are rental agreements transferable to new owners when a rental property is sold?

Postby adamka » Wed Nov 23, 2011 5:22 pm

Yes, the lease transfers.
adamka
 
Posts: 52
Joined: Thu Mar 31, 2011 11:03 am


Return to Rental Law

 


  • Related topics
    Replies
    Views
    Last post
cron