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Updated over 5 years ago,
Alabama Law - Purchasing Properties with Existing Tenants
Good morning! I'm in the process of purchasing a rental property that comes with an existing tenant. The tenant has a rental agreement in place that doesn't expire until April 2021. In Alabama (if not US-wide) What are my obligations in terms of honoring the lease?
My thought is that there's probably a certain time frame that the original lease is to be honored (e.g. 6 months - year), before I can incorporate mine, but would appreciate any insight.
Thanks!
Shawn