Many states have LAWS… - Posted by David Krulac
Posted by David Krulac on February 23, 2002 at 10:56:15:
that say a new owner must honor the tenants leases until expiration. If the tennat has a month to month lease then 30 days notice is required, see Santa Rosa story posted below. If the tennats have a lease for 3 more years then the tenants may stay, their choice for the remainder of the three year lease.
I like to get rentals vacant and chose my own tenants, but some times I have inherited tenants. A seller may be reluctant to vacate the building if there is even the smallest doubt that the sale will actually close.