Do existing leases become void upon purchasing a property?

[Mark Douglas]

I've heard different opinions on this....

Any lawyers out there?  :)

Thanks

Mark

[Jay Orlauski]

I am in California - but in here in Cali - a lease or rental contract must be honored , even if the property is sold - the new buyer must still honor the contract  - or offer to buy his/her  way out of it contract - seeking advice from a local attorney would be the way to go on this one - just to be sure - worst way to start off your real estate business is in court..