My parents have a lease in the house that my aunt owns. My aunt is selling the house. Their lease is up in

Asked by Lily, New York, NY Fri May 16, 2008

Jan '09. Can the new owners raise their rent and/or ask them to leave or do they have to abide and takeover the lease? New York

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Joseph Ferra…, , New York County, NY
Thu Jun 5, 2008
Generally, no, the new owners cannot raise the rent, nor can they ask your parents to leave prior to lease expiration. The sale is subject to the lease.... HOWEVER...

Many leases contain lease termination on sale clauses, usually upon 30-60 days notice. Now, without seeing the lease (I am a lawyer), I cannot say if your parents' lease has such a clause, nor whether your aunt would exercise it.

I always advise talking to a lawyer (many give free consults) when there is a legal question of real importance-- all the facts matter, as well as any documents that have been signed.

If I can be of any help call me at 646-714-2720
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Gail Gladsto…, Agent, 11743, NY
Fri May 16, 2008
The lease always supercedes the sale. You can have your parents write a new lease for a longer period of time at any rate you wish, but understand that the income from your Aunt will impact the saleability of the property.
Web Reference:  http://GailGladstone.com
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