Legal Question in Real Estate Law in New York

Re: Rental lease

A "lease" is a legal "interest" in real property. Therefore, it "runs with the land" rather than with the individual owner of the land. Therefore, when a new owner purchases the land, the new owner's rights are subject the rights of others who have interests in the land.

Thus, if the owner had given an "easement" for someone to use, say, a path on the property to go to a beach, then the new owner would purchase the property subject to the rights of the owner of the easement. The same principle holds true for leases.

-- Kenneth J. Ashman; www.AshmanLawOffices.com

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Re: Rental lease

Your purchase is subject to the lease. If you want the Tenant to move, you will have to buy him out.

Re: Rental lease

I echo Attorney Nager's reply.