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  1. #1
    Join Date
    Feb 2011
    Posts
    2

    Question Owner Presented Terms, We Signed Lease, He Did Not Sign - Wants to Sell

    My question involves landlord-tenant law in the State of: New York

    We've been trying to get a unit at a space for a while. The first time it was on the market, we put a deposit to secure the space, then the owner said that there was a potential buyer. So we moved on.

    The same unit later became available and we put in an offer / deposit again. The owner then came back with some terms and we agreed and he drafted a lease.

    We signed the lease, said we'd give the money on a certain date (2 months security + a condo fee that he added on)

    Meanwhile we posted numerous ads and showed our existing space to many people so we can terminate our existing lease. We have someone who will probably sign a lease tomorrow.

    So right now we're almost in limbo. What can we do about this? I've read that by the landlord giving us terms and by us signing, we have entered a binding contract. I have also read that depending on what state you are in there does not have to be signatures from both parties to constitute a lease agreement.

    We've since given our full deposit + condo fee and we are now hoping that the sales deal falls through. Any advice is greatly appreciated.

    Thanks!

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Owner Presented Terms, We Signed Lease, He Did Not Sign - Wants to Sell

    I'm not sure what you're trying to ask. Your landlord can sell the unit you're renting. The buyer becomes your new landlord.

  3. #3
    Join Date
    Feb 2011
    Posts
    2

    Default Re: Owner Presented Terms, We Signed Lease, He Did Not Sign - Wants to Sell

    Quote Quoting Mr. Knowitall
    View Post
    I'm not sure what you're trying to ask. Your landlord can sell the unit you're renting. The buyer becomes your new landlord.
    Can the landlord tell us we can't rent the place if the new buyer doesn't want to rent it to us?

  4. #4
    Join Date
    Feb 2010
    Location
    CT & IL
    Posts
    5,273

    Default Re: Owner Presented Terms, We Signed Lease, He Did Not Sign - Wants to Sell

    Quote Quoting a1er
    View Post
    Can the landlord tell us we can't rent the place if the new buyer doesn't want to rent it to us?
    No, they assume the contract.

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