Legal Question in Real Estate Law in Alabama
hurry
i signed a 1 year lease at my apartment and i have lived here for 3 months. the apartments were sold and they will be torn down and turned into a hotel. will i receive anything out of this since my lease has not run out?
2 Answers from Attorneys
Re: hurry
YOur lease is an interest in real property. YOur rights cannot just be ignored. It is possible that no destruction of the complex will occur until all leases have run out. It is also possible that the seller or purchaser may have a plan to move you to another apartment, perhaps at their expense. the real problem for you is that you have no damages until you are evicted, which likely will not happen. But if it does your only real grounds for complaint is as to the costs of moving. After all, you are now required to pay rent for your time in your unit each month. The owners would give up their right to payment after you leave. So your only real damage is inconvenience and moving expenses. I am sure you will be approached about this aspect of the matter. Be ready then to tender a reasonable offer to move. Perhaps the landlord or purchaser will pay all the moving expenses and perhaps give you a last free month of rent where you are now to compensate you for the inconvenience of moving. Good luck.
Re: hurry
I cannot add anything to the previous answer.