Legal Question in Real Estate Law in Indiana
Lease status when building is sold
What happens if I have a one year lease with 4 one-year renewal options and the building is sold just after the first renewal started. The lease says 60-day notice of termination after each annual renewal. Does that mean the new owner does not have to honor my 1 year lease or can they just give me a 60-day notice to change my lease mid-year?
Asked on 7/29/08, 1:30 pm
1 Answer from Attorneys
Re: Lease status when building is sold
Something sounds odd here. You will need to see an attorney to show him or her the lease as your submission does not make sense. It would make more sense that there has to be a 60 day notice of termination before the next renewal, not after the annual renewal.
Answered on 7/29/08, 1:45 pm
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