I got a similar case and will close in two weeks. I got the old lease but don't like it. I have negotiated a new lease with the tenant (higher rent and better terms) for 1 year. I do't think there is a need to honor the old lease (the shor sale owner collect rent while not paying mortgage) since it won't stand on court. The tenant only have two choice, sign new lease or out.
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• In CA new owner has to continue the lease. -SunshineInCA- ♀ (0 bytes) () 07/27/2011 postreply 21:03:14
• Does this apply to short sale? -jjj7- ♂ (140 bytes) () 07/28/2011 postreply 05:13:00
• If tenant has a legit lease, new owner has to honor it. -texastrader- ♂ (115 bytes) () 07/27/2011 postreply 21:20:44
• this does not seems right. -jjj7- ♂ (175 bytes) () 07/28/2011 postreply 05:16:10