Inherting Tenants with Existing Leases in GA

[Evan Macbeth]

This is a hypothetical question I am trying to understand. If one inherits tenants from a previous owner, is there a limit to what is defined as a lease. Can the previous owner sign a 5 year lease with their tenants for $100 a month and this must be respected by the new owner? If not what are the limits here. I understand the "Tenant Protection ForeclosureAct of 2009" addresses this question but this only applies to foreclosures, correct? Where is this addressed in GA laws?

[Deanna McCormick]

Why would anyone in their right mind buy a property with this kind of lease in place.

Hypothetical is one thing, not smart is another.

So moral of story is if your buying property with a tenant, make sure you know the lease terms, and have tenant sign estopple that also confirms lease term and rent and security deposit amounts.