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    venicelwilliams's Avatar
    venicelwilliams Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 29, 2013, 07:12 PM
    Landlord selling
    My landlord is selling how long do I have to leave. I have 7 months left to my lease. Is landlord responsible for my security deposit and first months rent. What if I can't find a home in time
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #2

    Sep 29, 2013, 07:28 PM
    If you have a written lease then the new owner has to honor your lease. The current landlord has to either return your deposit to you when he sells or transfer it to the new owner. I suggest that you send him a letter now reminding him that he must either return your deposit at the sale or confirm to you in writing that he is transferring it to the new owner, since landlords often forget to do that.

    If the landlord has approached you about moving out early then tell him that you will do it if he buys out the balance of your lease term. Asking him for a payment of 2 or 3 months of rent plus your moving expenses would not be out of line.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #3

    Sep 30, 2013, 03:18 AM
    It is possible the new owners will be buying the property as a rental so they could renew your lease.

    Without knowing where you are, we can't be sure how much notice you have to give or be given before moving. But as Lisa says your lease must be honored by the new owner.

    If you can't find a new place before your lease expires, the new owners could evicet you if they want to take possession.
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