Posted by John Merchant on July 06, 2003 at 09:28:35:
You have to honor whatever legal agreements the Seller has in place when you buy…leases, rental agreements, easements, etc.
Now understand, the agreement might or not be legally binding on the seller, so it wouldn’t be binding on you. e.g. in some states a lease of such length has to be notarized and if it’s not, it’s invalid.
You just need to ascertain what your law is so as to determine the validity of the tenant’s position.