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Rental property has been sold, new landlord, does old lease have any bearing?
Property has been sold, new landlord is taking over. Tenant is currently on month-to- month. Landlord wants to draw up new lease, new terms, new payments, new rules. 1 - Does the old lease have any legal weight? 2 - Does this new lease definitely supersede the previous lease?
Gina's correct. To address your questions:
1 - Does the old lease have any legal weight?
ANSWER: Yes. The provisions of the old lease apply when a property is purchased. They apply both to the buyer and the tenant. However, as you note, tenant is currently on a month-to-month lease. In this case, that same situation (month-to-month) transfers to the new owner and to the existing tenant.
If the tenant were on, let's say, an annual lease that expired October 30, then both would be bound by that lease, which would still expire October 30.
2 - Does this new lease definitely supersede the previous lease?
ANSWER: If both landlord and tenant agree to it. But, as noted above, the landlord cannot unilaterally impose a new lease on a tenant. However, again as noted above, what currently exists is a month-to-month. So the landlord can draw up a new lease and present it to the tenant. The tenant has the right to depart (persuant to the month-to-month lease), sign the lease, or attempt to negotiate terms and conditions with the landlord.
Hope that helps.
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