Inheriting illegal leases

[Ginny Shaw]

So we are still in negotiation for our four plex we will be missing our third closing date again Tuesday. Inspection showed that he has been running this building into the ground with no maintenance and leaving his tenants unsafe. We still believe it has good numbers and are still trying to make it happen. One of the issues is the leases we are inheriting are not legal texas real estate licenses but some crap he made up on a couple of pages with clauses in blatant breach of real estate law (discriminating against kids for a start) How do we go about honoring leases when these leases are not legal in the first place?

[Greg H.]

Very few scenarios would make a lease illegal in Texas. A lease can be as simple as a few sentences on a sheet of notebook paper and still be valid

You are required to honor the leases and the terms there in until their expiration.  You can ask the tenants to sign new agreements but cannot force them to do so