Legal Question in Real Estate Law in New Jersey

Re: Landlord Rights

Leases of realty are among the types of agreements that "run with the land." That is, a new owner of the land succeeds to all the rights and obligations of existing leases. That said, there may be ways of negotiating with the tenant so that you can do what you have planned. You have to recognized that the tenant has a big bargaining chip because he has rights under the lease.

See also: http://info.corbettlaw.net/lawguru.htm

Re: Landlord Rights

My answer is made without reading the Lease involved. The terms of that Lease control the answer. You should read it to be sure it was not terminated by the sale, that it does not have any provisions for extension, and/or what termination and notice provisions it contains. Then you should comply with all provisions.