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No, The lease that is in place when the property ownership changes hands stays for its time period. all conditions and terms do not change

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Q: When a property changes owners does a new rental contract to be drawn up?
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Related questions

Does a tenant with a long rental lease have the right to use the property as he wishes while he is living there?

The only 'rights' a rental tenent has with regards to the rented property are those set forth in either the rental contract or in later negotiated documents that both parties have signed. The renter cannot make any changes to the property without gaining approval from the rental unit owners/managers.


How do you deduct home owners insurance from a rental property loss?

You can't do that.


In Los Angeles can the new owner of an apartment building change the interior without the renter's approval?

All such issues should be addressed in the rental contract. However, owners can generally do whatever they choose when it concerns their property as long as the changes adhere to the municipality and/or state building codes.


Does every rental property involve a rental property tax?

In the U.S., property taxes are generally paid by property owners. Renters generally pay a fixed monthly amount to the landlord/proprietor with no tax added.


Where can you download a sample of property rental contract?

The best thing you can do a search for one on Google or other search engine. Make sure that you look for one that is specific to your state. You can always make changes to such a contract to suit your needs as a landlord.


I am unhappy with our property rental company can we keep your tenants and finish with the rental company?

You need to review your contract to determine if you can end the agreement.


Can a lien be placed on a property jointly owned by 2 people primary house or rental property if one of the owners has a judgment against them by a creditor?

can a property or business be liened if one of the owners, owe debts


Are owners of a rental property rerquired by law to clean carpets prior to a tenant moving into the rental property?

The only time this isn't necessary is if the carpet is already very clean or recently replaced.


What is difference between home owners insurance and rental property insurance?

Other than home owners insurance covering your primary residence where you live and rental property insurance covering a home that you rent to others there are a few differences in types of coverage. While most home owners policies cover the building you live in as well as your contents (TV, Clothes, etc...), most rental property policies cover only the building. This is because in a rental property situation you usually do not own the contents inside and the renters have renters insurance to cover their own contents.


If one state was named in a rental agreement to have controlling law and the address of the rental property was in another state which state has enforcement?

Under UCC laws the state in which the rental contract was signed.


A rental property was deeded over to siblings via a life estate deed transfer who is legally liable in the event the property is sued?

The siblings are the legal owners of the property so they would be legally liable. For example, if someone was injured on the property they would sue the legal owners. If the property taxes were not paid the legal owners would be liable and the property would be taken as against the legal owners.


What is a definition of rental house?

A rental house is a house that is owned primarily to be able to rent out in order to receive income. Owners do not usually plan to live in a rental house. Some owners may plan to live in a rental house or property at some time in the distant future and they are trying to get someone else to pay for it in the meantime.