Is a Home Rental Agreement still binding if the owners sell the property?

We have a yearly rental agreement for a single family home that does not expire until May 2010. The owners have decided to put the house up for sale. Are we entitled to any down deposit back or any legal recourse if the house sells before the end of our agreement?Is a Home Rental Agreement still binding if the owners sell the property?
yes it is still binding. the lease is attached to real estate and sells with it. the new buyer will be landlord and will have to honor lease.





at the closing the security deposit will have to be given to buyer as well as any pro rated rent for the portion of month seller no longer owns home.





if you want out and seller wants you out, then approach them about terminating lease early. if this is not investment property, most buyers will not want to buy a home like this if they have wait for your lease to expire.Is a Home Rental Agreement still binding if the owners sell the property?
I know some people that this has happened to, on Section 8, Social Services, or just renting for a year lease like you. They had to move Before the house was sold %26amp; the new owners take occupancy of the house, the new owners WEREN'T obligated to rent the house out to them or anyone else. The house was sold because the landlord stopped paying the lease, so I guess it was a foreclosure, it sounds like that's what's happening with your landlord if the bank is forcing him to sell.
In nearly ALL such sales, the lease obligation will transfer to the new owners (unless the seller is a certified idiot). You need to read your lease carefully to determine if it contains a clause which terminates lease obligation at time of sale. Most leases do not include such, but some have been known to include such language.





Dig out your lease and start analyzing its language.