Legal Question in Real Estate Law in New Jersey

is New owner responsible to existing lease/tenant obligation

can tenant ask for lease to be adjsusted? One-year lease recently signed. Building then sold. What are the tenant's rights/ new owner's responsibility to existing lease?


Asked on 2/08/04, 12:22 pm

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

Re: is New owner responsible to existing lease/tenant obligation

New owner steps into sellers shoes. Is this a residential or commercial property?

Read more
Answered on 2/09/04, 9:42 am
Walter LeVine Walter D. LeVine, Esq.

Re: is New owner responsible to existing lease/tenant obligation

Both parties are bound by the existing lease. No changes can be made unless agreed to by tenant and new owner.

Read more
Answered on 2/08/04, 9:58 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New Jersey