Property with tenants and no leases in place

[Tiamo Wright]

I found this multi-family that currently has tenants in place on a verbal month-to-month lease. The agent selling the property stated this is part of an estate sale since the owner passed away. Has anyone ever dealt with something like this before. If there are no copies if the lease what rights do I have as a new owner to get new leases in place?

[Mose Gebremeskel]

I haven't dealt with this but have some ideas!

- Contact a real estate attorney that's familiar with local landlord-tenant laws. 

- While the lease is verbal, it's technically legal so you want to verify with them the exact verbal agreements of the lease. Let them know what going forward would be the new lease. Have this written. 

- I would also let the selling agent know about your intentions with this property, as they might have info that might help. 

Those are just my two cents. Hope this helps!