Thursday, December 15, 2011

Am I bound to a lease agreement if it was signed with the prior owner and not the current owner?

Two months ago we signed an 18 month lease agreement with our landlord for our business. Prior to signing the lease we were in negotiation and the landlord expressed that he was thinking of selling the building, at that time I told him that I would not sign a lease with someone that I did not know, he did not want to tell me who was interested. Approximately one month later he then said that he was not going to sell he was going to add on and that the bank required a lease with all of his tennants. So we signed an 18 month lease, about 1-2 weeks later he sold the building. Is the lease that we signed with the former owner transferable to the new one, or since I expressed that I did not want to sign with someone that I did not know is the lease void? There has been nothing in writing besides the old owner giving me a recipie card with the new owners address. The lease that we did sign has noting in it about being transferable. Any help is greatly appreciated

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