New Owner of FHA tenant occupied duplex. Need advise.

[Margaret Rodriguez]

Hello all! I'm in the process of purchasing a Montgomery County, Pennsylvania property with an FHA mortgage (owner must occupied) Need to move in within 60 days of closing. Two current tenants with the same lease stating: Box is checked next to this: "If checked and landlord sells the property, during the lease or any renewal term, Landlord has the right to terminate this lease if landlord gives written notice to tenant at least 45 days prior to the settlement date of the property defined in the agreement of sale. Tenant is not entitled to any payment of damages." I just need the lower unit tenant to leave. Lease is up 3/2018. Question 1, As a new owner, can I give that 45 day notice to quit once we close? Question 2, If not, can seller give this notice while under contract with me 26 days before closing? Question 3, If I can do none of the above, and have to wait until the end of the lease, will I be penalized by the FHA program? Any help with this is greatly appreciated

[Chris K.]

@Margaret Rodriguez

I obviously didn't see the other parts of the lease, but that language seems to suggest that the current landlord must give the notice 45 days before the settlement. To be safe, you might be better off extending the closing and have the current owner deal with the tenants through eviction or some other steps. I wouldn't close until you do so. As for FHA rules, check with your lender to see what it specifically says about these situations.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it as legal advice. Always consult with your attorney before you rely on the above information.