Landlord and Tenant Rights and Responsibilities

questions & answers

Question: I am the owner of a rental property and am under contract with a tenant through 2/29/16. Circumstances have arisen which are going to require me to sell the home within the next few months. It appears as though there is no early termination agreement in the lease. Can I terminate with ample notice to the tenant?

Answer: No. A lease is a binding contract. ANyone you sell the property to would be bound by the terms of the lease until it ends. The usual approach here is for you to offer to buy out the lease, meaning you pay the tenant sufficient money to get them to agree to let you break the lease. That would have to be negotiated with the tenant.

Comments:

QUESTIONS

  • I am the owner of a rental property and am under contract with a tenant through 2/29/16. Circumstances have arisen which are going to require me to sell the home within the next few months. It appears as though there is no early termination agreement in the lease. Can I terminate with ample notice to the tenant?

STORIES

  • He told me that I could actually get all the money I needed by using my home as collateral. . .
  • He told me that I could actually get all the money I needed by using my home as collateral. . .
  • I just helped my mother, age 89, deal with her Medicare HMO. . .

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