Alabama Law - Purchasing Properties with Existing Tenants

[Shawn Costley]

Good morning!  I'm in the process of purchasing a rental property that comes with an existing tenant.  The tenant has a rental agreement in place that doesn't expire until April 2021.  In Alabama (if not US-wide) What are my obligations in terms of honoring the lease?  

My thought is that there's probably a certain time frame that the original lease is to be honored (e.g. 6 months - year), before I can incorporate mine, but would appreciate any insight.

Thanks!

Shawn

[Nathan Gesner]

Existing contracts transfer with the sale of the property. You have to honor the existing lease for the entire term unless all parties are willing to agree to changes.