Jun
30
If the building gets sold that i rent a space in, can I break the lease?
By
I rent space for my beauty shop and the owner is selling the building. My lease it up in July, but I would like to leave before that. I am obligated to the lease since it will be a new owner?
Quick Property Sale
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4 Comments
July 2nd, 2010 at 1:56 am
In most cases, when a new buyer buys a property, he also buys the leases. So yes, you would still be held to it. Your current landlord is probably making more money selling the building since you are already in it.
July 2nd, 2010 at 3:02 pm
If your lease does not have a clause that permits you to break it, you have to stay or pay penalty. As the current owner to ask if you can leave prior to the July date. The new owner may want to use your space for another project.
July 6th, 2010 at 2:55 am
You will have to look at your lease, but most likley you are obligated to the new owner.
July 6th, 2010 at 11:34 am
yes.. you are op ligated to the lase atilt the expiration day