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    Sparkle1n100's Avatar
    Sparkle1n100 Posts: 3, Reputation: 1
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    #1

    Mar 31, 2009, 06:02 PM
    New landord, old lease
    I am currently getting ready to buy a duplex with a friend, for us to share. The one we are looking, and really like, already has tenants living in it. Does there old lease still stand, or can we have them move? We do not want to kick anyone out in the street like that and will give them 2-3 months to move and will not count is as an eviction. What are the laws on this? Thanks!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Mar 31, 2009, 06:04 PM

    No, when you buy the property ( except for foreclosure, bankrutpcy and tax sales) the lease is valid and you are obligated to honor it.

    So you have to allow the renters to stay to the end of the lease, unless you wish to buy out their lease from them.
    Sparkle1n100's Avatar
    Sparkle1n100 Posts: 3, Reputation: 1
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    #3

    Mar 31, 2009, 06:07 PM
    Thanks!
    Sparkle1n100's Avatar
    Sparkle1n100 Posts: 3, Reputation: 1
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    #4

    Mar 31, 2009, 06:12 PM
    New landlord, old tenants and deposit
    My friend and I are going to buy a duplex together. When the tenants lease is up, we are going to be moving into the duplex ourselves. Who is entitled to pay the deposit back to the tenants, us or the previous landlord?
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #5

    Mar 31, 2009, 06:28 PM
    The old landlord is supposed to transfer the deposit to you at the closing. You become the new landlord and you are responsible for returning the deposit to the tenants.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #6

    Mar 31, 2009, 06:29 PM

    The previous landlord should be transferring the deposit to you at closing.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #7

    Mar 31, 2009, 06:38 PM

    First, please don't start separate threads for the same issue. I've merged the threads for you.

    You can offer the tenants a buyout to agree to move out earlier. Since they will have to move when the lease is up, they probably will be willing to move early if you sweeten the pot.
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