Answers (7)
- Kothe Team, "Andy Lindsay Kothe"
- Contributions:6
Here in Arizona if you have a signed lease and have a clean payment history and paying market value for rent, the new buyer has to honor the lease. You can agree to a buy out if you want but you still have a right to the property.
Hope this helps.
Hope this helps.
- Daniel D. Thomas, "danielthomas1"
- Contributions:283
Hi User64610515,
Different States have different rules on this. However, in Connecticut the rules are as follows: "The lease runs with the property". Meaning that the terms agreed too (in Writing), by you and the current owner, will transfer to the new owner. Because of this, you have the legal right to use the property through the duration of your current lease. Once your lease expires you'd have to renegotiate it with the new owner. Keep in mind that if you have a clause in your lease stating the lease becomes void with the sale of the property (very rare), then you may be asked to vacate on transfer. Some Connecticut leases will have a clause that cancels the lease if the property becomes foreclosed on, or if it is assuemed through Eminent Domain (The State or City taking over the property for Community Use). If your lease is verbal or Month to Month, you may be asked to leave with 30 days' notice.
I hope this helps!
-Daniel D. Thomas
Different States have different rules on this. However, in Connecticut the rules are as follows: "The lease runs with the property". Meaning that the terms agreed too (in Writing), by you and the current owner, will transfer to the new owner. Because of this, you have the legal right to use the property through the duration of your current lease. Once your lease expires you'd have to renegotiate it with the new owner. Keep in mind that if you have a clause in your lease stating the lease becomes void with the sale of the property (very rare), then you may be asked to vacate on transfer. Some Connecticut leases will have a clause that cancels the lease if the property becomes foreclosed on, or if it is assuemed through Eminent Domain (The State or City taking over the property for Community Use). If your lease is verbal or Month to Month, you may be asked to leave with 30 days' notice.
I hope this helps!
-Daniel D. Thomas
- Maria Cipollone, "J C REALTORS INC"
- Contributions:261
It all depends, if the new owner will want to lease that property to you. if not you will have 60 days to move out. If he sells the home he will have to give your security deposit to the new owner.
Best of Luck,
Maria Cipollone
Best of Luck,
Maria Cipollone
- Rachel Sartain, "Rachel Sartain"
- Contributions:414
you are now considered month-to-month and the seller has to give you 30 days to vacate
- user2924186
- Contributions:1
It also matters how they fill out your vacate papers so find out
- Jason Chapman, "Jason Chapman"
- Contributions:35
Depends on your lease agreement, if after the lease period it becomes a month to month basis...typically, landlords in UT give 30 days for eviction, but it can happen in as little as 10 days. Talk to your landlord...odds are he wants you in there until it sells so he can continue to make his mortgage payment. Yes, you more than likely have to keep paying your rent.
He will probably sell to the first person that comes along with an acceptable offer, so there is no guarantee that the new owner will give you an option to lease. You may want to start looking for a new place just so you're prepared if worse comes to worse.
You may want to consider purchasing a home...why pay somebody else's mortgage? If your credit is the issue, it can be fixed. I'm in UT, so contact me if you would like to discuss this.
Jason
He will probably sell to the first person that comes along with an acceptable offer, so there is no guarantee that the new owner will give you an option to lease. You may want to start looking for a new place just so you're prepared if worse comes to worse.
You may want to consider purchasing a home...why pay somebody else's mortgage? If your credit is the issue, it can be fixed. I'm in UT, so contact me if you would like to discuss this.
Jason
- Doug Ranger, "dougranger"
- Contributions:366
Hi User:
Your lease that just expired, was it for at least a year? If the duration of the lease was for a year and now you are on a month to month basis, you must be given 60 days notice. This info is for California.
Did the landlord give you a notice saying the lease would not be renewed? Just putting the home on the market is NOT notice. Perhaps the purchaser would be willing to lease the home to you if the purchaser happens to be an investor.
Doug Ranger
RE/MAX Grand Central
[deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
DRE: 01226427
Your lease that just expired, was it for at least a year? If the duration of the lease was for a year and now you are on a month to month basis, you must be given 60 days notice. This info is for California.
Did the landlord give you a notice saying the lease would not be renewed? Just putting the home on the market is NOT notice. Perhaps the purchaser would be willing to lease the home to you if the purchaser happens to be an investor.
Doug Ranger
RE/MAX Grand Central
[deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
DRE: 01226427
How long do we have to move out if our landlord sells the home we are renting?
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