Legal Question in Real Estate Law in Florida
Florida rental property sold - transfer of leases to new owners
I own rental property in Florida and it is being sold. Tenant is concerned new owner may not honor their lease.
Is new owner obligated by law to honor lease agreement with tenant that was signed by me after sale is completed? If yes, can you site the Florida statute that says this so I can show tenant?
2 Answers from Attorneys
Re: Florida rental property sold - transfer of leases to new owners
If the seller discloses to the buyer a pre-existing lease, then the buyer takes subject to that lease. If the lease was not disclosed prior to the sale, then the tenant may have a problem (and so will the seller).
Re: Florida rental property sold - transfer of leases to new owners
Your contract with the buyer should so reflect he is taking the premises subject to the tenancy.
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