robertmookie
4 Answers
Chiangmai
Best answer!
Yes, they may have to. That's the reason why most landlords do not like for you to record your lease agreement. It can stop a sale. You may want to contact a real estate attorney to halt the sale long enough to get an understanding between the new owner and you (if you are concerned). The original lease agreement should contain a clause that allows said lease to survive the sale, meaning the sale shall not automatically cancel any prior lease ageements.
It is also noteworthy to know that in an apartment building whereby there are multiple tenants, and many tenants, throughout the years, have had verbal deals with the landlord. For example, the landlord promises to repaint the inside of the apartment if the tenant remains as a tenant for 2 years. Well, the building will be sold on the 23rd month. What kind of recourse does the tenant have? The law realizes that as well. To protect the Buyer of the apartment building as well as the tenant, the Seller is required to go to each and every tenant in the building to have a document signed. The document is called estoppel certificate. This, in essence, asks the tenant if the existing agreement is the correct one and if there are any additional verbal agreements between the Seller and the tenant. If the tenant signs the estoppel certificate, then it becomes binding after the sale with the new owner. If not, the Seller will have rectify the situation before the sale closes.
I am sorry it is so long.
| 13 years ago. Rating: 1 | |
And you all know that I woulc not touch the subject of outhouse under any circumstance.
My bad, Colleen. I didn't realize there's more crap to this, no pun intended.
Colleen
robertmookie
just to make things a little clearer the person that has the property for sale is having his attourny make up this ageement . the owner of the camp witch i bought had a verbal agreement to put in a new outhouse on his land . if he would sell it to him but he sold it to me . thats were this lease agreement came about. in the mean time the owner of the outhouse has found a buyer but he wants me to hurry and pay him the owner
| 13 years ago. Rating: 1 | |
(He's added more to this in another thread).