I just finished signing a new 12 month lease last week and was advised today by my property manager that the property is being sold. What are my rights? Will the new owner have to abide by the lease? Can they terminate the lease prior to the date specified on the lease? I am in Florida and I am not sure what laws apply to protect tenants. Thank you
Answered on: 9/16/13, 11:56 am by Barry Stein
The lease agreement controls. There are no laws specifically which address this. Have your lease reviewed. In most circumstances, the purchaser buys the property subject to the existing lease.
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