Williamstown, NJ asked in Real Estate Law for New Jersey

Q: Seller has accepted lease that will extend past close date by 1 week without Buyers consent. What is buyers recourse?

It is a vacation property. Sales contract requires both buyers/sellers to execute leases. Seller says he verbally agreed the lease before executing sales contract and had to accept it. The lease was not disclosed to buyer until several week later. Buyer does not want leases nor does buyer want to delay closing. It is vacation season and buyer had planned to use property for personal use. Can buyer require lease to be nullified?

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1 Lawyer Answer
Leonard R. Boyer
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Answered
  • Clifton, NJ
  • Licensed in New Jersey

A: While it would appear to be a situation where the buyer should be able to require and succeed in getting the lease voided, prior to taking any action, the buyer should consult with a local real estate attorney. The attorney can then review all the documents and advise the buyer on what course of action would be best. Good luck.

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