Legal Question in Real Estate Law in Texas

New Landlord does not want to honor existing lease
I own a Shop in Brownsville, TX. We have operated from the same location for more than 3 years. We have an existing lease that is for 3 years the first term, and two (2) three year renewal terms. The initial 3 year term matured on January 31st, 2001. There is a provision in the text of the lease requiring the tenant to notify the lanlord of intention to exercise the next 3 year option.
This was complied to, by myself, in writing, persuant to the terms of the lease.
Recently, without any written notification to us, the landlord sold the building. The ''new'' landlord, it has been brought to my attention, that he does not intend to honor the current lease. I have ''heard'' he has intentions of raising our rent to more than twice what is now. And has suggested that he could evict us.
Can he do this? Am I protected at all?
His idle threats have already caused us concern and if acted on will result in considerable financial damage and hardship.
Any assistance would be greatly appreciated!

Asked on 6/20/01, 2:41 pm

Joseph A. McDermott, III Attorney at Law

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Re: New Landlord does not want to honor existing lease

Sounds like you have the right to the renewal term; I can't be sure without reviewing the lease.

Answered on 7/05/01, 11:16 pm

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