Anonymous asked in Business & FinanceRenting & Real Estate · 2 months ago

Can a landlord make you move even if you have a lease in nyc if they want to sell the building?

11 Answers

  • 2 months ago
    Favourite answer

    NYC rules vary with the type of ownership:  If a tenant occupying a fair market apartment signed a lease for his apartment that expires after his landlord sells his property, the new landlord must honor the terms of the lease originally agreed upon by the tenant and his previous landlord. The new landlord cannot legally alter any terms of the lease until the lease expires.

    Rent regulated/stabilised tenants are protected against eviction by government regulations. Because rent regulated tenants and apartments are regulated by government statute, a change in ownership of a property will not significantly affect rent controlled tenants in terms of their rent or right to continue living in a property.

    Coop renters, like tenants of fair market apartments, are protected by their leases. If a tenant of a coop signed a lease for his apartment that expires after his landlord sells his property, the new landlord must honor the terms of the lease in place and cannot legally change the terms of the lease until it expires.

    Condo renters are also protected by their leases in the same way that fair market apartment tenants are, but with one exception. In a standard condo lease, there is usually a clause that allows the landlord to give his tenant a thirty-day notice terminating the lease if the landlord wants to sell his property.

  • 2 months ago

    No, the lease remains valid and transfers with the building.

  • 2 months ago

    If you have a lease that hasn't expired, then they can't.  If your lease has expired, then they can with proper notice. There are some very strict rent control laws in some parts of NYC that may prohibit making you move even if your lease is expired, but I am assuming this isn't the case where you are.

  • 2 months ago

    At the time of any sale, the new owner has to accept the terms of all existing leases. Your old owner cannot evict you prior to the sale as he is required to abide by the terms of your lease.

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  • 2 months ago

    No.  Signed leases transfer to new owners.

  • 2 months ago

    Once the sale goes through the new owner can evict you.  Right now you've been given a heads up. 

    If they need to do major repairs or renovations the tenants can't stay either.   

    You may or may not have your contract honored.  Depends on state and local laws.

  • Maxi
    Lv 7
    2 months ago

    No, they can sell the property however the new owner is legally obligated to take on the responsibility as your landlord because you have a legal contract......... your present landlord could ask you to move, negotiateand  offer you a financial settlement to do so, normally called 'cash for keys' but that is up to you

  • 2 months ago

    Nope - the lease remains in place, and transfers to the new owner.

    It can only be terminated early with the agreement of both parties; you could for example agree to terminate early if they pay your moving costs, for example. 

    If you're a month to month tenant, the landlord can give you the required notice in writing to end your tenancy (as they could at any point, whether selling up or for any other reason)

  • 2 months ago

    It depends on NY laws.  In some states, you are entitled to 30 day's notice.  In other states, the new owner must honor your lease.  When it expires, then you are out on your behind.

    Source(s): Certified Paralegal, with 25+ years' experience & with Landlord & Tenant law experience.
  • Anonymous
    2 months ago

    never heard of ANY state that did not require the new owner to honor the lease, the only exception is foreclosures in some states.

    not that I ever heard of.....and with NYC rent control/stabilization laws, you can't just be kicked out because the lease expires even after the lease expires.  the landlord would need another valid reason to terminate your tenancy.

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