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I signed a lease for 3 years to rent a shop to run my

Hi I signed a lease for...
Hi
I signed a lease for 3 years to rent a shop to run my business, the landlord just informed me that he is going to sell the shop. I still have 24 months on the lease.
What is the status of my lease for 3 years with the new landlord? can it be easily canceled? isn't there any obligation to keep my lease until expired? any clarification, please
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Answered in 3 minutes by:
8/17/2017
barristerinky
barristerinky, Attorney
Category: Landlord-Tenant
Satisfied Customers: 40,114
Experience: Attorney over 17 years, landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

You may also be offered a phone call, but those don’t come from me and are offered by JustAnswer and you are under no obligation to accept.

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What is the status of my lease for 3 years with the new landlord? can it be easily canceled? isn't there any obligation to keep my lease until expired?

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The new owner takes the property subject to your existing lease. So it can't be cancelled unless your lease specifically has a cancellation clause in it that gives the landlord the power to do so.

.

As an aside, in addition to being an attorney, I have also been a landlord for over 26 years...

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Thanks

Barrister

barristerinky
barristerinky, Attorney
Category: Landlord-Tenant
Satisfied Customers: 40,114
Experience: Attorney over 17 years, landlord 26 years
Verified
barristerinky and 87 other Landlord-Tenant Specialists are ready to help you
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Customer reply replied 6 months ago
Thank you, ***** ***** much better now. I was afraid to lose my efforts and money i put since I have started the business.

Nope, you are safe. The only way to get you out is if you agree to a buy out..

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Customer reply replied 6 months ago
thank you again
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barristerinky
barristerinky
barristerinky, Attorney
Category: Landlord-Tenant
Satisfied Customers: 40,114
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Experience: Attorney over 17 years, landlord 26 years

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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