Legal Question in Real Estate Law in New York
Renew tenant lease during a partition action
I am currently a 50% tenants-in-common defendant in a partition action of a 4 family house. Two of the apts are occupied by tenants with expired leases. My question is, would I be able to renew leases to these tenants without the signature of the other 50% owner? I'm also currently the manager of said property. Thank you in advance for your responses.
3 Answers from Attorneys
Re: Renew tenant lease during a partition action
not legally
Re: Renew tenant lease during a partition action
Why would you want to encumber property which is going to be sold with a new lease? Keep the tenants as month-to-month without a lease, with a stipulation that they will move out upon 30 days notice.
Re: Renew tenant lease during a partition action
You do not say what your position is in the partition action. Are you the plaintiff or a defendant and who will wind up owning the property when the litigation is over? If you are seeking to buy out the other owner(s), you should include permission from the court in your petition. If the other owner(s) are seeking to buy you out, there could be a claim made against you if you renew the leases without their permission and they can establish they could rent at higher rentals..