Our lease is up, and we were wondering if we should ask our landlord to sign another lease, even with the house being sold. If the new owners use the house as an investment property, d they have to honor the lease that was in agreement with the previous landlord, or does that lease become voided out when someone else buys the property.

The new owner has to honor the lease. If the new owners are planning to owner occupy then your current landlord could help you locate a new home when your current one sells. Did you get first right of refusal? You are supposed to be given the opportunity to purchase the property before it is listed since you live in it.

Tlhen41, a "right" to buy the property first if you live in it, must be a specific law in your area, it is not in the several states I own property in ( or did own property in since I have just sold all of mine)

Fr_chuck, check your landlord tenant laws. I have lived in several states and it was the same in each one. If a tenant is in place and you decide to sell, you need to ask that tenant if they want to purchase the property. If they do not then you are free to list. If you have a ready willing and able buyer in place why wouldn't you want to sell to them? It is just common decency to ask your tenant first!

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Originally Posted by tlhen51

It is just common decency to ask your tenant first!

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Hello tl:

You may be right. However, this is the legal board, not the decency board.

Plus, I don't know of ANY state that requires a landlord to offer the property to the tenant first. If you do know of a state or states that do that, we'd sure like to know which ones.

If you'd like to peruse some state landlord/tenant laws, we have copies right here at the top of the real estate page on a sticky note. By the way, the Padre knows those laws pretty good...

excon