Property Subject to tenancy

[Mark Reit]

I hope to be closing a a rental property next week.

The contract signed a few months ago is "subject to existing tenacy."

The lease is only until the end of January. My question is, if the seller decides to give a new lease to the current tenant for another 12 months without telling me, would that be allowed? If the contract is subject to "existing tenancy", does that mean I accept the tenancy at the time of the contract or any existing new tenancy?

Thanks,

[Nathan Gesner]

This statement generally means you are accepting the property with the existing lease. However, it doesn't forbid the Seller from extending that tenant or signing a new lease with someone else.

I would contact the Seller and ask them to put in writing that they will not make any changes to tenancy without your written permission.

[Mark Reit]

I'm a little late for that.

I'm just starting and attorney did not suggest that at the time of signing contracts.

Are you sure about that? Or does it mean subject to tenants at time of contract?