Legal Question in Business Law in New York

purchase of home that is currently rented

we would like to purchase a home that currently has two tennants we would like to have this home as our single dwelling no renters.

currently there is a handicapped individual in one appartment and a elderly sick person in the other appartment. If we buy this house can we occupy it as a single dwelling? any stipulations we should be aware of? we would like to live there without renting.


Asked on 2/27/07, 1:19 pm

3 Answers from Attorneys
Johm Smith tom's

Re: purchase of home that is currently rented

I haven't checked for NY, but most states make buyers comply with existant leases, if they lease is filed in the public record. You should have an attorney check on this for you; it is obviously worth the money.

Read more
Answered on 2/27/07, 2:34 pm
Tanya Gendelman Law Offices of Tanya Gendelman, P.C.

Re: purchase of home that is currently rented

If a renter is 65 years old or older, it is more difficult to evict them, you may need approval from Social Services, who have an interest in protecting elderly persons by making sure that they have a new place to live and do not end up on the street.

Read more
Answered on 2/28/07, 1:10 am
Frank Pintauro Donohue & Partners, PC

Re: purchase of home that is currently rented

My advice is that you should not close on the house without resolving the tenant issue. Once you close and take possession it is your problem to get the tenants out, which will be very difficulty and costly. Most residential real estate contracts require the seller to deliver the home vacant and clean. Check your sales contract. Again, I would not close until the tenants are out.

Read more
Answered on 3/01/07, 1:29 pm


Related Questions & Answers

More Business Law questions and answers in New York