Commerical Lease in Utah, just 6 months in and Lessor sold building

[maydaygames]

We are about 6 months in to a 3 year lease and the lessor just informed us that they are selling the building at the end of the month and want us out. We have a good place and a good deal there and don't wish to leave. The buyers have already closed and are under the impression that we will be leaving by the end of the month. Can we refuse to leave and pay the new owners?

Could we seek some compensation to be forced out of our lease early and should we seek it from the current owners or new owners? I know if we had tried to break our lease after just 6 months that they would not have let us and kept us on the hook for everything.

It is about 1,200 square feet and we only pay about $500/month so it's a good price for commercial leases. The contract doesn't say anything about this sort of situation.

Confused in Utah!

[AFFA]

I wish to inform you that your lease agreement will govern your rights. In this regard your lease will not get affected by sale of premises because new buyer knew hat you are having lease of the premises and new buyer can have only those rights which the existing seller is having which does not include possession. In this if new buyer is of the opinion that you will leave by end of month then you must inform new buyer of the correct situation that you are having three year lease and you do not have any intention to leave the premises early. In this regard if you do not inform new buyer then as you have given a false impression to new buyer that you are leaving and thus you may not be able to have your lease. Further if you are vacated before lease period then the owner may be made liable for breach of contract.

AFF

[Friend In Court]

A lease is an encumbrance on the property, a legally enforceable lien and any new owner has to abide by the terms of the lease. The sale of the property should not affect your rights under the lease for the new owner has to honor it according to its terms and conditions just as the previous owner did. The current owner cannot boot you out, give you notice to vacate as he would if you were a month to month tenant. To have the property vacant available to the new owner would enhance his ability to sell it to them, but he is stuck with what he signed. So, relax. If either the present or new owner intends to break the lease, attempt to force you to move, have a real estate attorney inform him of his obligation and the consequences should he not intend to abide by it.

[maydaygames]

Thanks for the info, I will talk to the current owner today about this and see what they say. I don't MIND moving too badly but will incur about $800 in expenses to do so. I think it is only fair they pay me that expense in consideration for mutually deciding to negate the lease.

[Friend In Court]

Yes, paying relocation expenses and any other additional costs, perhaps the difference between what you are renting this premises for and the cost of the new property might be something to negotiate over.