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We just signed a contract in November, the property is on the market they just put the sign up last night. My questions are does our lease go to the new owners when it's sold, dose our security deposit, and if the new owners what to movie in themselves do we get notification do they pay for moving?
@mrshart, what does your lease say? Notice to vacate timeframe? Typically, the lease is xferred to the new owner as well as security deposits. Your lease should be honored. Also I've suggested to owners who are considering selling their investment property, to put any new tenants in a month-to-month lease with a 60 day notice to vacate. Depending on the timing of things, this doesn't mean that the tenant will have to move; it gives the new owner an opportunity to do their own lease with a previous/current tenant.
It's also not wise to burn the bridge with a current landlord. You may not know why the owner is motivated to sell. However, many landlords will contact a potential tenant's previous landlords. What would you want a current landlord to say about you?
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