Landlord and Tenant entered into a 5- year lease. One year later, Landlord sold the premises to Purchaser. Purchaser is bound by the lease.

Question

Quizplus · Accepted Answer

The purchaser of a property subject to a lease assumes the obligations and benefits of the lease in most cases unless there is a specific provision in the lease or sale agreement stating otherwise. Therefore, Purchaser is bound by the lease even if it was entered into before they bought the property.

Landlord and Tenant Entered into a 5- Year Lease