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It can be dissolved or terminated if Serbian steps are followed.
Lol, I assume that was a DYAC moment, and that is supposed to say "certain", but it really fired the imagination wondering what Serbian steps might be.
Lacerta provided the reality of Idaho. There are no laws in Idaho that specifically require a new landlord to continue to honor the lease. What you do have in the way of protections is IC 6-303 that outlines the reasons a landlord can seek to have you removed. These are the only reasons acceptable with a term lease and a new landlord isn't one of them. So, unless you violate the terms of the lease, there does not appear to be a legal reason for the new landlord to terminate the lease until expiration.
But, as Lacerta also mentioned, you had better check your lease to see if you agreed to some form of termination upon sale as that can be their out.
Thanks lacerta.
When I signed the lease and paid the deposit plus first months rent I did not know they were going to try and sell it. I signed and paid on July 7th. I rented out my home I own in texas on July 10th.
On July 24th (after I packed up everything and had my moving atrangements) I got a call from the property management company saying that they intended to sell the house. I requested the owner call me. When we spoke on the 28th (the day we left texas) she said she would take it off the market seeing that she had a one year lease with me and my home in texas already had a lease on it.
We moved in august 1st
Monday the 3Rd a third party realtor informs me with less than 24 hrs notice that she is bringing people by the house that afternoon. They stay for an hour and a half while we are still unpacking.
On the 5th we are informed that there is an offer on the house and that she wants to figure out what an offer would look like. Her realtor tells her they don't have to do anything but fire the property management company and give us 30 days notice.
Problem here is that the guys who came by and put an offer on the house had disabled vet plays on the car. A VA loan requires possession within 14 days. If the loan goes through underwriting they will have to default on the VA loan because my lease runs with the property. There will probably be a bigger problem afterward.
There is no out for sale of the home only for being a bad tenant and not paying.
Today the 7th the owner fires the property manager and was assigned the lease. She has not responded to inquiries about how to pay rent when due.
I am not willing to move down the valley. It's too far from our friends. We moved here because we have history.
I have recorded the lease with the county clerk so that there is a public record and that the underwriting doesn't get to far and in an effort to protect my fellow vets. I too am a disabled vet. I was advised to do this by my attorney.
Since you already have an attorney working on this for you, that is the one and only person you should be seeking advice from going forward.
as an FYI, a VA loan will not go forward if there is a lease on the property that survives the sale, so on;t worry about the person defaulting as the loan will never close.
I guess I just needed a place to vent. I just recently got an attorney involved this afternoon. I was seeking advice earlier in the day.
This thread will also serve as advice to any others who may be in my position. I'll let folks know how this plays out.
If you stay, read that lease and understand every word and be extra certain that you don't violate any of the terms and your rent is always on time. Know that you will be out at the end of the lease and probably with a less than enthusiastic landlord reference.
So, where are you going to move at the end of the lease?. Will a new rental magically open up for you? Or will you have to move 60 miles away and your kids have to leave one year friends and make new friends. Is it better to move before getting settled or after being there for one year?
It's difficult for me to imagine a town with zero rentals, unless it is so small that there is no school and not many kids.
Town of 1127. Lots for sale but we need to prove rental income on our home in texas before we can buy here. Also a lot of homes open up early summer because most people can't do the extreme winters here. -30s and 8 feet of snow on the ground. We have history here and happen to like it. There is a town 22 miles away that has lots of rentals in spring so well be good then and can still visit our friends often but I'm sure something will open up.
I would accept an offer from the owner to move if something opened up in the next couple months but as of now we would effectively be homeless.
Oh and I'm a stickler for the little stuff so I'm sure we wouldn't be an issue. I pay rent about a month early just in case.
I moved in 1 week ago from out of state and my landlord wants to terminate my lease. States there is an offer on the house. I have a One year lease in effect until July 31 2016. I dont want to leave and this is causing a tremendous amount of stress to my children.
Do I have to move out or can I stay through the end of the lease.
The Owner fired the property management company because they said it would be impossible to evict us for this reason. Apparently the Realtor thinks that they can fire the management company and give 30 day notice.
Most States have similar laws, so if your lease says nothing in it or has no provisions then your golden! However this could be an opportunity for you to make a little extra all while having owner flip the total bill for your relocation, because without you moving out the new owners would have to assume the lease or may walk away from the table, ultimately costing current owner hundreds of thousands of $$.
All else fails retain a lawyer or go to local housing authority neither would cost you a dime
Is this a federal law or is it an Idaho state law? The realtor seems really convinced that they dont have to honor the one year lease.
Just go to your local housing authority they are the ones who have written and have all the laws. You will be fine, or like others have said get the landlord to buy you out, in the long run they'll make $$ so why shouldn't you for your upheaval
FYI. If you decide to move in 3 months or in spring, the landlord might hold you to your 12 month lease. Because the buyer would be long gone by then. They have a buyer now and if this deal falls through they likely will expect you to stay the 12 months. But who knows what they would agree to if you wanted to move in spring. Everything is negotiable. But they might have a chip on their shoulder if the sale fell through because you didn't want to move. So in spring, they might play hard ball with you UNLESS they want it emty for resale in spring.
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