Our Landlord is selling our duplex...

[ILtenant]

We live in Illinois and our landlord is selling our duplex. He *thinks* that a lease is binding even after the property sells to another owner. He has even offered to revamp our old lease (which expires in July) to extend it another year for us before it goes on the market.

Will the lease still be legally binding even after the duplex sells to another owner?

Thanks!

 

[djdj]

YES and do it FAST........(and dont say any of this to the landlord)

WHY ?????? ALL leases AND security deposits gets transferred to the new owner at the CLOSING!

AND that gives you a lot of leverage, IF the owner or the new owner wants you out..

THEY WILL HAVE TO PAY YOU TO MOVE....no kidding

If they want you out they will have to pay your moving expenses, ALL of your installation fees for cable phone etc, ALL of your security back, plus anything else you can hit them up for...

Becuase it is easier to sell a house when its empty...or the potential new buyer may say i will buy it if you get the tenants out...

VOILA...you go get $2000 3000 or more and it wont cost you a dime to move...

SO get a Valid signed lease by both of you NOW...make it sound like YOU LOVE THIS PLACE and dont want to move...and make sure you keep your copy of the LEASE safe...you will need it later

SNEAKY HUH!!!!!!!

[Edited by djdj on 02-19-2001 at 10:29 AM]