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New Owner - Lease Terms

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dlb211

Junior Member
What is the name of your state? California

The condo I have been living in for the past 8 years has now been sold to a new owner. My lease expires in 5 months. The realtor said that the new owner will honor the terms of the lease and will move in at the time my lease is up or sooner if I choose to move before the end of the lease. What guarantee do I have that the new owner will indeed follow the terms of the lease? What happens to my security deposit? I have made many improvements to the unit and have given the realtor a list of certain items that are mine and will not stay with the condo - like drapes, chandeliers, hall carpet, refrigerator, etc. How can I be assured that the realtor has disclosed all this to the new buyer and that the new owner acknowledges this? There are several items that are not working right now - how do I know that the realtor has disclosed these things?
 


HomeGuru

Senior Member
dlb211 said:
What is the name of your state? California

The condo I have been living in for the past 8 years has now been sold to a new owner. My lease expires in 5 months. The realtor said that the new owner will honor the terms of the lease and will move in at the time my lease is up or sooner if I choose to move before the end of the lease. What guarantee do I have that the new owner will indeed follow the terms of the lease?

**A: well for starters, the CA Civil Code protects your interest. Read your lease and the L/T law.
**************

What happens to my security deposit?


**A: aee above. It must be transferred tot he new owner.

**********
I have made many improvements to the unit and have given the realtor a list of certain items that are mine and will not stay with the condo - like drapes, chandeliers, hall carpet, refrigerator, etc. How can I be assured that the realtor has disclosed all this to the new buyer and that the new owner acknowledges this?


**A: request a response from the current owner and the Realtor. Keep in mund that although you may have made certain improvements on your own dime, if the improvements are considered fixtures appurtenant and attached to the property, you will be be allowed to remove them upon vacating.
Ie. you may remove the refrigerator but hall carpet if tacked down must remain.

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There are several items that are not working right now - how do I know that the realtor has disclosed these things?
**A: see above.
 

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