Does our lease break if property is put up for sale?

Full question:

The landlord that we lease this townhouse from has put the townhouse up for sale. Does this break our lease as we are looking for another place to live just in case they sale this place. Will we still be responsible for the remainder of that lease?

Answer:

Unless the lease contains a provision for terminating the lease due to sale, you are obligated for the term of the lease. Typically, the new owner must continue the terms of the lease if they assume the lease in the sale.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Red flags in a lease agreement include unclear terms, excessive fees, clauses that allow the landlord to enter the property without notice, and restrictions on subletting. Additionally, if the lease requires you to waive your rights or includes penalties for normal wear and tear, these should be viewed with caution. Always read the lease carefully and consider seeking legal advice if you notice any concerning terms.