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Posted by Provost on October 16, 2001 at 18:44:30:

In Reply to: what happens if LL wants to sell? posted by PK on October 16, 2001 at 14:46:36:

Sale of an apartment does not affect the lease. The new owner assumes the lease from the old owner. Of course, most apartments are sold vacant, so if you're going to accept such a lease you'd have to assume that you'd be leaving at the end of its term.

Lilly's comment regarding perchasing is a good one. Investigate purchasing the place via owner financing or lease option, or more traditional methods.

: I'm considering an apartment where the owner's first choice is to sell the apartment, but has said he will rent it out (to me) if he is unable to. My question is, what happens if I sign a 1 yr lease and halfway through the LL decides to sell the apartment? Do I have to move? Is there any recourse?

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Comments:
: Sale of an apartment does not affect the lease.  The new owner assumes the lease from the old owner.  Of course, most apartments are sold vacant, so if you're going to accept such a lease you'd have to assume that you'd be leaving at the end of its term.

: Lilly's comment regarding perchasing is a good one.  Investigate purchasing the place via owner financing or lease option, or more traditional methods.

: : I'm considering an apartment where the owner's first choice is to sell the apartment, but has said he will rent it out (to me) if he is unable to.  My question is, what happens if I sign a 1 yr lease and halfway through the LL decides to sell the apartment?  Do I have to move?  Is there any recourse?


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