Inheriting leases at acquisition

[Andrew DeWeerd]

When ya’ll take on tenants currently on a year long contract with previous owner, how do you prefer to bind the contract you’ve inherited to include you as the new lessor? 1) Just scratch out old name/address and wrote your name and have them initial/sign? 2) Create new addendum? 3) or do I need a new lease altogether? I’m in Florida, and I guess I’m not even sure if that contract is still valid, or if it fully transfers to me automatically, etc. lookin for some wisdom and advice! Thanks!

[Anthony Hurlburt]

It fully transfers to you. You do not need to change the lease in any way. It is still in full effect until its end date.