Q: The apartment building where I live has been sold. My lease doesn't expire until July. Does new owner have to honor it?
Nothing in lease about if building is sold.
A:
When real property is sold to new owners the new owners take the property subject to the lease agreements. Unless the property was acquired through a foreclosure, the new owners cannot evict you unless your lease dictates otherwise. The new owners can evict if you fail to pay rent, commit waste or due anything else that violates your lease agreement just like your old landlord could.
If the new owners of your apartment building attempt to evict you with no grounds or threaten to, you should consult an attorney. Similarly if they attempt to get you to sign a new lease, consult with an attorney.
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