Obligation of lease

4 Replies

I have a contract on a property and the owner told me there is a two year lease on it. Am I obligated to uphold the lease?

I am not 100% sure regarding your state laws, but Florida and Vt require the leases to be in touch and must be transferred to you. Check estoppel letters in the search bar on top.

Originally posted by @Robert Cooper:

I have a contract on a property and the owner told me there is a two year lease on it. Am I obligated to uphold the lease?

I am in Texas.

Originally posted by @Robert Cooper:
Originally posted by @Robert Cooper:

I have a contract on a property and the owner told me there is a two year lease on it. Am I obligated to uphold the lease?

I am in Texas.

 Thanks

Yes. A lease is passed in the sale. If you want the tenants out, you could offer them cash for keys. Otherwise, you must honor the lease as long as they abide by the terms. However, it's Texas, so there is nothing that requires you to renew the lease, at expiration. You will just need to give them notice that it will not be renewed, or not be renewed at the current raye, according to the requirements of the lease. (Not legal advice!)

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