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SalemWitchChild

My House Was Sold

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I was approached today by a man that says he is the new owner of our property. Evidently my landlord was suppose to send us a letter and didn't. That doesn't surprise me. But I'm concerned about our contract. Does this new landlord have to honor our contract with our previous landlord?

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In theory, he should honor it, but generally it has to be in writing for that to happen. Generally he should honor the deposit agreement as well. But as everyone has said, call a lawyer. OR talk to the new owner and see if you can't write up a new contract with him.

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He may well choose to honor it, but I do not think he is required to in Kentucky.

The contract you had was with the previous owner, since you werent even informed of the sale Im sure he didnt see it as important to get a concession from the buyer to hold him to your contract. Chances are he bought the property as an investment rental property so he is not likely to evict you, he can change the rent though.

I would ask him what he intends to do, dont stress yourself about it until you know whether you should even be stressed at all. =)

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Generally speaking, rights concerning real property must be secured by registration of the appropriate documents at the recorder of deeds office to be effective against a purchaser not party to the original contract. People, of course, rarely register rental contracts and that is, I assume, what you are talking about.

I notice you live in Kentucky and a quick check reveals that your state appears to have adopted the Uniform Landlord ands Tenants Act.

This contains the following language:

383.600 Limitation of liability.

(1) Unless otherwise agreed, a landlord who conveys premises that include a dwelling

unit subject to a rental agreement in a good faith sale to a bona fide purchaser is

relieved of liability under the rental agreement and KRS 383.505 to 383.715 as to

events occurring after written notice to the tenant of the conveyance.

So it may be that the original landlord is liable to you under the terms of the contract.

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I would have to agree with Tallmike about finding out first. I would assume if this new owner didn't say anything about you leaving then they probably aren't waiting to move in.

Before worrying about the laws and lawyers, find out if there is a problem. Good luck!

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Didn't the new owner say anything about his plans when he talked to you?

No. I know he bought it as rental property and I don't expect he'll evict us. I'm worried about higher rent/ and or my pet agreement.

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I just got the letter from Springgate (Previous landlord). In it it says that Hawkins (new landlord) will be upholding our old contract. That's a big relief! :coffee:

Right on!

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I just got the letter from Springgate (Previous landlord). In it it says that Hawkins (new landlord) will be upholding our old contract. That's a big relief! :coffee:

Good for You.

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I was approached today by a man that says he is the new owner of our property. Evidently my landlord was suppose to send us a letter and didn't. That doesn't surprise me. But I'm concerned about our contract. Does this new landlord have to honor our contract with our previous landlord?

:!: Check with your state laws. In California the buyer of a property has to purchase the property subject to tenants rights. If you have a lease, the buyer has to honor the terms of that lease, i.e. if you have 6 months to go on your lease then the buyer has to honor that. If you have a month to month lease, then all the new buyer has to do is to give you 30 days notice. Again, check with your states laws and possibly a tenants rights organizatrion. :unsure:

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I was approached today by a man that says he is the new owner of our property. Evidently my landlord was suppose to send us a letter and didn't. That doesn't surprise me. But I'm concerned about our contract. Does this new landlord have to honor our contract with our previous landlord?

:!: Check with your state laws. In California the buyer of a property has to purchase the property subject to tenants rights. If you have a lease, the buyer has to honor the terms of that lease, i.e. if you have 6 months to go on your lease then the buyer has to honor that. If you have a month to month lease, then all the new buyer has to do is to give you 30 days notice. Again, check with your states laws and possibly a tenants rights organizatrion. :unsure:

ALways check the end of the thread. This is already resolved with a happy ending. :coffee: Thanks though.

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I'm happy to see this story has a happy ending. Best of luck. :coffee:

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First when you say, your house, and contract?

Do you have a contract for deed, IE buying the house from the owner but deed not transfered till the amount is paid. This is a commom purchace method in many states.

If this is the case, normally the home could not be sold to another without a clause showing your interest.

You of course in that case should have had the contract for deed recorded at the court house so that it shows up on the house ( it would not have a clear deed with your contract on it) Your contract would act in many ways as a lien on the house, where it would have to be honored or bought out.

Now if your "contract" is merely a rental or lease agreement, what does your actual lease say about these. In most states the new owner would be obligated to honor a lease ( but remember most leases can be broken)

and he can also breach the contract even if there is one if he is willing to pay the penalities listed for breach.

So I would say you need to 1. talk to the new owner about your concern. You may find there is nothing to worry about.

2. if there is something to worry about, consult a local attorney.

# not an attorney ( did go to law school) but not legal advice only giving perosnal opinion on what I would do in a simular situation.

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