Expert: Hans Weber, Licensed Broker Associate - 8/28/2010

Question
Hi I live in NYC and i currently renting a apt with 1 year left on a 2 year lease. My question is my landlord just notified me that she is selling the property and I have 2 months to find another. What are my legal rights? I know that my lease is binding on all parties including anyone who takes ownership. If they buy me out how much am I entitled to? Do you know of any good lawyers in NYC that can help me? Thank you Andrew.

Answer
Hello Andrew,

Thank you for your question.

Your lease should be binding on everyone, but there may be some termination clauses in the lease.

There are multiple standard lease forms, some with no termination clauses where the lease is binding as is with tenant in place if sold.  There are others that state if the owners chooses to sell the unit they need to give the tenant 30 days notice and the tenant must leave.

Please take a look at your lease for that clause and that is your first guide.  If there is no such clause you can probably negotiate some moving expenses.  

If the owner just started the process of selling the apartment you may have longer than 2 months before is closes.

Is it worth a lawyer?  Probably not, but try Drew Hazen, very tough, 914-761-0381.

Hope it works out for you.

Hans