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If I agree to purchase a residential property from an owner but that property is currently being leased to someone what rights do I have?
Wiki User
∙ 14y ago
If you purchase this property, you will assume the position of landlord under the existing lease with the tenant. Your rights and responsibilities are determined by the lease and your state's landlord-tenant laws. It is a good idea to talk with a real estate attorney in your area before purchasing this property to ensure that the lease protects your rights and you won't have any surprises after closing (e.g. tenant demands deposit refund, major repairs, etc.)
Wiki User
∙ 14y ago
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