can current tenents break the lease with a new owner?

Asked by Kris, 01854 Sat May 29, 2010

Just closed on a property in MN the tenents still have 9 months left on there one year contact.
They told me they are moving out next month, Can they do this or do they to have to abide by the
contract

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Patrick Thies’ answer
Patrick Thies, Agent, Anytown, IL
Sat May 29, 2010
You may have to talk to an real estate attorney to see exactly what your options are. Usually a lease transfers with the property. The new owner should take the property subject to the current lease and needs to honor the terms of that lease. The tenant needs to honor their end of the lease as well.

If both parties agree to end the lease terms, then that is ok as well.
1 vote
Anna M Brocco, Agent, Williston Park, NY
Sun Jun 13, 2010
If you wish to keep them as tenants, do have a discussion with them--if they wish to vacate before the lease ends, do review the lease as the answer may be found in the document, or consult with an attorney who specializes in real estate and have all related documentation reviewed--then go from there.
0 votes
John Mondello, Agent, Prairieville, LA
Sun Jun 13, 2010
I would seek a middle ground with them. If using a standard fixed term lease in its default state, they are subject to fulfill their obligations; however, as the others are saying, you may not want people in there that don't want to be there. I would tell them that you will start advertising and when and ONLY when you get a qualified tenant, you will let them off the hook.

This gets them out early and gets you a tenant who WANTS to be there. A win win. Good luck.

John J Mondello Jr, Realtor
Keller Williams
(225) 329-8119
0 votes
Heidi Zizza, Agent, Framingham, MA
Sun Jun 13, 2010
Well I would really read the lease carefully. However if they want to break I would let them go. You probably dont want them anyways!
Web Reference:  http://www.mdmrealtyinc.com
0 votes
Matt Heisler, Agent, Westborough, MA
Sun May 30, 2010
Under the standard lease, they do not have the option to quit, they are on the hook for the whole lease. It may be more practical to work out the situation though.
0 votes
Joe Arnao, Agent, Sanwich, MA
Sun May 30, 2010
Don has a good point. Tenants may think they have to move out. Open dialogue first and make sure they know you want them there and they are obligated. If that fails, seek attorney.
0 votes
Don Tepper, Agent, Burke, VA
Sat May 29, 2010
Both parties are bound by the existing lease. However, the lease could (but usually does not) provide that one or both parties may terminate the lease in the event of a sale.

Quick question: Are you sure they're aware of their continuing obligations?

Hope that helps.
0 votes
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