Honoring existing leases

[Natascha Bybee]

Hello all!

When purchasing a leased property, must you always honor the existing lease? Are there any states that allow you to renegotiate or terminate the lease? I have looked at landlord/tenant law in multiple states and have not seen this scenario referenced. Also, with the eviction moratorium in place, are you allowed to simply refuse to renew an expiring lease or give 30 days notice on a month to month?

Thanks!

[Matt Devincenzo]

I'm not aware of any state where you do not have to honor existing leases. I'm not an attorney, but I believe that is a basic premise of US contract law that all States have by virtue of being part of the US legal system. I believe this even holds true in Louisiana which does have some legal framework from it's French origins which differ from the other States.

As far as the MTM and non renewal...a clarification...there is an eviction moratorium, not a lease termination moratorium. You can non-renew and the tenant can move out, but if they do not move out then your recourse is through the courts via an eviction, and that is where you become stuck. So nothing (that I am aware of) prevents you from non-renewing or giving notice, but then you can't pursue it if the tenant won't cooperate.