As a landlord, it's vital to understand all your sitting tenants' rights before selling a house. Yes, a landlord can sell a house with tenants in Illinois.The sale does not terminate the lease, and the new owner must honor the existing lease terms. Selling a property with a tenant is legally permissible. There are numerous options for selling property with a tenant. It starts with addressing the lease and dealing with the tenants. When a new landlord buys a rental property, all existing oral or written leases are still valid. They cannot kick anyone out without proper notice. Be Upfront About Selling Meet with your tenants about your intentions to sell the home. We know that the lease is binding and will transfer to the new owners if it sells but we love this place a lot and don't want to leave.

Property Sold Our With Tenant In Chicago

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