What Happens To My Contract if the Apartment Building is Sold?

contractIf you have recently heard that your apartment building in the local area is going to be sold, then you may be wondering what happens with your lease? This is your home, so it is important for you to understand your rights. If you have heard that your apartment building is being purchased by another owner, what does this mean? There are several important points to keep in mind.

Long-Term Leases Must be Honored

If you have a long-term lease, meaning a lease that is longer than one year, the purchaser of the apartment building is legally required to honor the terms of your lease. Therefore, you cannot be evicted without just-cause; however, if your old landlord was ignoring certain things you were doing to break the lease, your new landlord may not. Therefore, you should make sure that you are in compliance with the terms of your lease. Otherwise, the new owner may attempt to terminate your lease with just-cause.

Short-Term Leases Might End Quickly

If you have a short-term lease, or if you are renting month-to-month, the new landlord may attempt to terminate your lease immediately. Typically, this requires 30 days notice; however, this could vary depending on the terms of your lease. Therefore, if you get notice that your landlord is attempting to terminate your lease early, you should look at the agreement and make sure you have been given enough notice. In this situation, rely on a legal professional who can help you.

Rely on a Landlord Tenant Attorney Orange County

If you have questions or concerns about your lease, then you should rely on an Orange County landlord tenant attorney. At the Katje Law Group, we specialize in landlord tenant law, and we can provide you with access to an experienced landlord-tenant attorney Orange County. Contact us today for a case evaluation!

Contact Katje Law Group today at 714-400-2970 or info@katjelawgroup.com