Q: I signed a yearly lease with my landlord and then she sold the property. What now?
I signed a lease for next year. A month later a guy shows up on my door to say he is the new owner and wants me to sign a new lease which raises my rent a lot. The owner never told anyone she was selling. Why would she send us a lease if she wasn't going to own it? The new guy was aware that some of us signed leases for the next year and now he wants us to pay more. What can I do?
A: The new owner bought the property bought it subject to all of the leases. She cannot demand new leases.
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A: A new owner steps into the shoes of the former owner with respect to existing tenancies. Therefore, you may seek to have the terms of your signed lease with the selling owner honored without agreeing to sign a new lease at a higher rent. If you have not yet moved in and the new owner attempts to prevent you from doing so, it is possible to seek an order from Housing Court to compel the new owner to allow you to take possession.
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