landownerkansas
Junior Member
What is the name of your state?What is the name of your state? I live in Rawlins County Kansas
Hi everyone, I was approached by my land lord and offered a chance to buy the property that I live on, it is a house with out buildings and 70 acres of pasture. We agreed on a price and had a local real-estate agency draw up the purchase agreement and he will also be doing the closing and holding the Ernest money.
After I read and signed the purchase agreement a couple of days later I was told by the seller that the pasture had a lease on it for this year, but was not a written lease. I re-read the purchase agreement and there was no mention of this lease in it, I then talked with the party that has the lease and asked to see a copy of the lease, that is when they said it was just a gentlemen’s agreement and had not been written on paper.
In the past the pasture had been leased while I have lived in the house, but I assumed that the lease had expired since he now wanted to sell the property so it never crossed my mind to inquire on any leases.
My question is do I have to honor the lease?
can I tell them that since their is nothing written on paper that I am choosing not to allow them to use the pasture?
The seller mentioned that I would not get any rent money for the lease.
Thanks in advance
Cliff
Hi everyone, I was approached by my land lord and offered a chance to buy the property that I live on, it is a house with out buildings and 70 acres of pasture. We agreed on a price and had a local real-estate agency draw up the purchase agreement and he will also be doing the closing and holding the Ernest money.
After I read and signed the purchase agreement a couple of days later I was told by the seller that the pasture had a lease on it for this year, but was not a written lease. I re-read the purchase agreement and there was no mention of this lease in it, I then talked with the party that has the lease and asked to see a copy of the lease, that is when they said it was just a gentlemen’s agreement and had not been written on paper.
In the past the pasture had been leased while I have lived in the house, but I assumed that the lease had expired since he now wanted to sell the property so it never crossed my mind to inquire on any leases.
My question is do I have to honor the lease?
can I tell them that since their is nothing written on paper that I am choosing not to allow them to use the pasture?
The seller mentioned that I would not get any rent money for the lease.
Thanks in advance
Cliff