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Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31684
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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There are talks of my building being sold to be demolished

Customer Question

There are talks of my building being sold to be demolished and used for the landlords use. I have a commercial lease that has until the end of 2016 and another 18 month extenuation. What rights do I have if the sale goes through?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Roger replied 1 year ago.

Hi - my name is ***** ***** I'll be glad to assist.

Since you have a lease, you need to take a look at it and see whether the agreement includes a clause that gives the landlord a right of termination if he/she/it sells or otherwise legally conveys the building. If there is such a clause, your tenancy could be terminated as spelled out in that clause.

If the lease doesn't address what happens if the property is transferred to a new owner, neither the landlord nor anyone who owns it after him would have a right to terminate your lease. You could continue to occupy the unit at the monthly rent set by the lease for the duration of the current lease and any renewals provided for under it.

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