We have a rental agreement until 10/30/2006. We just found out that our landlord has sold the house. I know our contract is still good until Oct. but could we move out without penalty or does our contract transfer to the new owner? We live in Florida.

Generally, the lease remains valid even when the property ownership changes.

There are oddities from state to state, though, so to be sure, here are Florida's Landlord-Tenant Laws where you may find it addressed: http://www.flsenate.gov/statutes/ind...3/titl0083.htm

You may ask the new owner, they may have other plans, but if they are buying for a rental property, the fact there is a signed lease in place may be part of the reason they bought it, a selling factor.

So if they are planning to own it for rental property, most likely they will not want to break the lease.