As a tenant, you likely have a lot of questions about your rights.
Can a landlord sell the house during a lease? What happens if they do? Can I be evicted if the new owner decides they want to live on the property?
In this blog post, we will answer all of these questions and more! Keep reading to learn more about your rights as a tenant in New Jersey.
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Can a landlord break a lease to sell the property in NJ?
In New Jersey, landlords are generally not allowed to break a lease agreement in order to sell the property.
However, there are a few circumstances in which they may be able to do so.
First, if the property is being sold to a buyer who will be using it as their primary residence, the landlord may give the tenant 90 days notice to vacate the premises.
Second, if the property is being sold to a developer who plans to demolish it or otherwise make significant changes, the landlord may give the tenant 120 days notice.
Finally, if the property is being sold through foreclosure, the new owner may give the tenant 90 days notice to move out.
While landlords have some leeway when it comes to selling their properties, they must still follow the terms of the lease agreement.
Do I have to move if my landlord sells the property in NJ?
No, you do not have to move if your landlord sells the property in NJ.
You have what is called “tenant’s rights” which protect you from having to move simply because the property changes hands.
The new owner will be bound by your lease agreement and will not be able to force you to move unless you violate the terms of your lease or they decide to not renew it.
So, even if your landlord sells the property, you can stay put until your lease is up.
What rights do I have if my landlord sells their house?
When a home is being sold in New Jersey, tenants have certain rights that must be respected by the landlord.
First and foremost, the landlord must give at least 60 days’ notice before any changes are made to the lease agreement, such as an increase in rent.
The landlord also cannot evict a tenant without cause or without following the proper legal procedures.
Additionally, the landlord must provide a copy of the sales contract to the tenant upon request.
Finally, once the sale is complete, the new owner must provide the tenant with a written notice confirming that their tenancy is still valid and providing their contact information.
By understanding their rights, tenants can protect themselves from being unfairly displaced during a home sale.
Do I have to move if my landlord does not renew the lease after selling the property?
If you are renting a property that is being sold, your landlord may give you notice that your lease will not be renewed.
This does not mean that you have to move immediately; in most cases, you will be able to stay in the rental unit until the sale is finalized.
However, it is important to check your lease agreement to see how much notice your landlord is required to give.
Once the sale is finalized, the new owners may choose to evict you so that they can move in or make changes to the property.
If this happens, you will need to find another place to live.
In some cases, the new owners may be willing to negotiate a new lease with you; however, they are not required to do so.
If you’re interested in learning more about buying or selling a home in New Jersey, continue reading our other resources:
- Sell A NJ Property Fast
- Do I Have to Pay Taxes on a House I Inherited in NJ?
- How Long Does It Take To Sell a House in NJ?
Ronaldo Stewart is a seasoned real estate professional with three years of experience in helping people sell their homes and has established himself as a trusted and knowledgeable resource in the real estate community.