Legal Question in Real Estate Law in New Jersey

Is a new landlord bound by existing leases?

I have recently purchased an apartment building. There is nothing in the contract of sale about the existing tennant leases but as a new owner am I obligated by law to honor any existing leases signed with the previos owner?


Asked on 3/07/03, 3:45 pm

2 Answers from Attorneys
Bruce Gudin Ehrlich, Petriello, Gudin & Plaza Esqs.

Re: Is a new landlord bound by existing leases?

Yes, until their term expires, then you have to follow very specific procedures for serving a new lease upon each tenant. You should consult with a competent attorney as this is highly technical.

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Answered on 3/07/03, 4:13 pm
Bernard J. Berkowitz Berkowitz & Raiken

Re: Is a new landlord bound by existing leases?

yes

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Answered on 3/07/03, 4:15 pm


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