Continuing Lease Under New Owner
Question: Is the original lease I signed still valid when there is a new owner?
I have a question about a lease on a home and real estate in Coloma, Michigan on Paw Paw Lake. In August of this year, I signed a lease with a gentleman for a term of one year. Recently, this gentleman has sold the property. My question: is the original lease that I signed now void because there is a new owner? There was no clause in the lease regarding what would occur should the house be sold. Do I have a legal obligation to stay and continue paying rent to the new owner? I realize your time is valuable and I greatly appreciate any advice you may be able to give to me.
Answer: Leases are generally assignable by the Landlord. First, I would advise the lease is still valid and you owe the new owner the rent. Secondly, the new owner is responsible to meet the Landlord's ongoing obligations under the lease. I hope this helps.
Attorney: Mark Miller