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Page 9 of 31 |
A building I am considering is occupied by several commercial tenants. If I buy the building, can I evict them? |
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Generally not. If a tenant has a legally valid tenancy, i.e., a written lease, and is current on the rent and all other lease obligations, the law usually lets the tenant remain in possession until the end of the lease, regardless of who owns the building.
Your best bet is to ask the owner for the legal status of each tenant since your ownership of the building will be subject to those leases. It is a good idea to get the seller to get an "estoppel certificate" from each tenant. You may need a lawyer’s help in evaluating how to deal with the tenants. |
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