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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41220
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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Pa lease law: If we sell our rental property to someone who

Customer Question

Pa lease law: If we sell our rental property to someone who wants it for owner/occupied, do they have to honor the current lease with the tenant until it expires before they take possession?
Submitted: 1 year ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 1 year ago.
Thank you for your post. I am a licensed PA professional and will be happy to assist you.
That is correct, all contracts have to be honored by the buyer. If the property has a lease on it, the buyer cannot cancel it upon purchase, he can offer a buyout to the tenants, for example, but cannot cancel and evict without cause. Until the tenants voluntarily agree to leave the agreement remains as negotiated between you and the tenant, and the new owner is bound by the terms.
Sincerely,
Dimitry, Esq.

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