Legal Question in Real Estate Law in California
I am closing next week on a short sale property that I will be living in in the sate of California. There is a current lease and tenant which in in place until March 2014. Can I break the lease?
3 Answers from Attorneys
Not unless they give you grounds for eviction. When you buy property with tenants, you simply step into the shoes of the seller as landlord. You are subject to the same obligations and have the same rights as if you had rented to the tenants. So if they give you cause for eviction you can and if they don't you can't.
One other thing to look out for: make sure you get the deposit from the seller, because YOU will owe it at the end if the lease. So have that covered in the escrow.
Only if you don't mind getting sued.
Negotiate with the tenant if you want to change it. You may have to buy them out.
I agree with Mr. McCormick, noting that buying from the owner (whether at a short sale or a regular sale) is different than buying from the trustee at foreclosure, where the tenancy can be terminated upon proper advance notice by the buyer.