Owner selling house but We just signed lease

[mrsOz]

Hi, we signed a new lease last month that became effective on March 1 and I have paid March rent. The owners are now going through a divorce and want to sell all of their rental home properties. The owners use an rental agency so we rarely deal with the owner. This is a big house in a very nice area and owner said that he wanted to find someone to buy it and then rent to me. I find that odd to accomplish because most people buying a house like this would just want to live in it, not lease it.

I am concerned that they will sell it while we are under lease. What are our options if this happens. Is our lease binding for the year? How concerned should I be?

 

[jacksgal]

The new owner is bound by terms of your lease in most states (if not all) which state are you in?

 

[mrsOz]

I live in Tulsa, Oklahoma.
The ladies from the realtor just came through and said that the buyer does not have to be bound by my lease. I don't think that is correct.

 

[Duranie]

Your lease should transfer, and the seller is really stupidi if he is not informing people this house will be occupied by renters until Mar 2009.

You also do not have to cooperate with the landlord with people constantly wanting to see the house. I would be asking right now what he is going to offer you guys for the inconvenience and if he is telling prospective buyers that the house is occupied by tenants.