Duplex Conversion to Condominium
I'm beginning the process of converting a duplex (two family) that I own to condos for retail sale. The process should be complete by March/April 2010. I have tenants in the property right now through August. I assumed that unless I bought them out of their lease that I would have no other means of getting them out of their contract.
I've been reading Wisconsin Condo law, however, and there is a stipulation that requires 60 day notice and a total of 120 days before the tenants are required to leave. Wisconsin Tenant law basically offers two contracts between landlord tenant, month to month which only requires 30 days notice at any time from either party for termination or a lease which requires a waiver of the contract from both parties to end the lease early or two breaches of the lease to warrant an eviction.
I have a call into a lawyer to ask him about this, but have not heard from him yet. I started wondering why would Wisconsin have this law? Maybe my assumption was wrong. If a tenant is on a month to month lease, why would they require 120 days notice to vacate the apartment because it is being converted to condos when if it stayed as an apartment they could be gone at any given time in 30 days? Does this mean that because the conversion to condo actually changes the legal type of property that any lease that is in place is for a property that doesn't exist anymore? And thus the lease becomes null and void and the 120 days is to protect the tenant that is in a lease from being kicked out into the street? Any insight you might have would be greatly appreciated.
Much grass.