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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 54026
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I want to purchase a starter home in Pennsylvania. The owner

Customer Question

I want to purchase a starter home in Pennsylvania. The owner has an existing lease for her detached garage to her neighbor to store two cars until the year 2026. She collected the total lease amount. As the buyer, do I have to honor the lease.? Thank you for your time.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Hi! My name is ***** ***** I look forward to helping you!
Unfortunately, unless the lease contains a specific provision allowing a termination in the event of a sale, a sale of the property does not terminate the lease. Rather, as the new owner, you would be taking ownership subject to this lease. So, if you don't want to be encumbered by the lease, you will need your seller to negotiate a buy-out of this lease prior to your purchase of the property.
This is the part of my job I don't like...when the law is not in favor of my customer. I wish I could tell you a sale terminated the lease automatically, but, I can only provide you information based on the law so that you can act on the best available information to you. ………..I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!
Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!

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