When changing ownership on a piece of real estate property, Can you kick out old tenants?
October 282009
My friend is buying a piece of realestate (multiplex) with tenants with one year leases. He wants to move in immediatly. Can he cancel old leases and kick them out or what because he will be the new owner of the property?
No, he cannot automatically change any existing leases. How would you feel if it were you. When you buy a property you also buy any existing leases and they must be honored to the fullest extent.pp