Our landlord is selling can we get out of our lease?

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Oldham Ash
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Our landlord is selling can we get out of our lease?

Post by Oldham Ash » Tue, 04 Aug 2009 1:52 pm

Our landlord has potential buyers looking round our unit. we have been there 14 months, but would like to move somewhere better. When he sells, is he breaking the lease, and can we move out without paying a penalty?

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ScoobyDoes
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Post by ScoobyDoes » Tue, 04 Aug 2009 4:12 pm

Technically, no...... the lease progresses and survives change of ownership.

We often have the debate the other way, the owner is selling and can he throw out the tenant because the tenant is worried about the cost and hassle of moving again, as i was a year or so back.

teck21
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Post by teck21 » Wed, 05 Aug 2009 11:39 am

Depends on the terms of your tenancy agreement, but it indeed is the case that the standard TA (which is what most people sign) simply means the tenancy gets transferred to the new property owner, ie you get a new landlord.

There is someone who posted in another board whose agreement apparently requires him to vacate upon a sale. That is not the usual case though.

In your case, your only option is to speak with the new owner to see if they're agreeable to you moving out (maybe they plan to move in or something which would be great for you) or assigning what's left of your lease to someone else, again, only if they're agreeable.

Actually, for any tenancy agreement, anything goes if both parties are agreeable on anything or any terms that are not illegal.

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