Legal Question in Real Estate Law in Texas
New Owner Old Lease
If I purchase an investment property with an active tenant, do I have to honor the remainder of the tenants lease or is that lease void because ownership has changed hands? I have been told that it is void and that a 30 day notice to vacate is all that is required. I do not wish to violate a valid tenant lease.
Asked on 2/28/02, 1:29 pm
1 Answer from Attorneys
Lawrence Maun
Lawrence J. Maun, P.C.
Re: New Owner Old Lease
It depends on whether the lease has been subordinated to the rights of the owner. Generally the lease has not been subordinated and because the lease is an interest in property which the previous owner has transfered before your ownership, the lease remains in effect. Larry Maun 713.266.2560
Answered on 2/28/02, 4:07 pm
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