Purchasing leased property


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Posted by Reader on July 24, 1997 at 20:56:49:


Originally posted by Reader on June 18, 1997 at 16:37:35:

I am considering purchasing a duplex that has both units leased to tenants until Jan. '98. Rents are below market and the house has been neglected and is in need of a lot of repairs. It will be difficult to have the repairs done with the tenants occupying it. If I buy the house, am I legally obligated to take over the lease, or can I give the tenants a 30 day notice?


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