Question : When changing ownership on a piece of real estate property, Can you kick out old tenants?
My friend is buying a piece of realestate (multiplex) with tenants with one year leases. He wants to move in immediatly. Can he cancel old leases and kick them out or what because he will be the new owner of the property?
- asked by dave.keyes
All Answers:
Answer #1
in most places NOPE
- answered by banjaxed
Answer #2
are they on a lease depends on the state law everstate is different findlaw.com under land lordtennant
- answered by Nikki
Answer #3
There is a proper procedure for this, it will haveto be stated in the contract at closing whether ornot the tenants will carry over the contract toyour friend the new owner. Also he will have towait a certain period and evict them legally whichhas to be done through court usually. But heshould be a nice guy and just say, that he wouldlike them to move if he doesn't have to honor thecontract.
- answered by cubsfreak2001
Answer #4
he must honor them and get the money for thembeing thereor he can pay them off
- answered by che_cavolo_voi
Answer #5
its very hard in fact if they are section 8 isgonna be harder and you might need to hire alawyer but, finally you can get rid of them ofcourse you are gonna spend some time and money.
- answered by Narvaez A
Answer #6
No. (answer is dependant on state laws however.)3.Can a new owner evict existing tenants? Amonth-to-month tenancy can be terminated at willwith proper notice while a lease generally can'tbe terminated until the term ends. An owner canevict lessees by negotiating a lease buyoutagreement. "[The owner] would need to work out adeal [with the tenant]. Striking a deal might bedifficult, depending on the rental market[because] the tenant will want to rent acomparable place. The owner can't [evict] tenantswho have leases because the owner has acontractual duty to supply them with housing,"explains Janet Portman, an attorney and co-authorof three landlord-tenant guides from Nolo Press inBerkeley, California.
http://www.realtor.com/basics/multifamily/tenants.asp?poe=realtor
- answered by Wikipedia
Answer #7
Nope. The lease remains in force. He has toeither let their leases expire (and give them theproper notice to vacate), or offer to buy themout.
- answered by Yanswersmonitorsarenazis
Answer #8
No, he cannot automatically change any existingleases. How would you feel if it were you. Whenyou buy a property you also buy any existingleases and they must be honored to the fullestextent.pp
- answered by ttpawpaw
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