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    monica54321's Avatar
    monica54321 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 22, 2007, 06:36 AM
    Property sold; can I get out of my lease?
    I am 2.5 years into my 5 year commercial lease in Louisiana and my landlord has sold the property.
    Can I get out of my old lease?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Sep 22, 2007, 06:39 AM
    No. When a property is sold any outstanding leases remain in force.

    However, the new landlord might be interested in letting you out of the lease or allowing a buyout. So talk to them.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #3

    Sep 22, 2007, 08:28 AM
    If there was a foreclosure by the bank the lease would likely be void. However, in a straight sale the lease survives. You as a tenant were a selling point to the new buyer, they need tenants to survive. Why do you want/need to get out?
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