Property Management
A Kansas residential tenant has lived in a rental for 3 years when the landlord sells the building. The new owner must:
AAllow the existing tenants to purchase the units first
BHonor existing leases for their remaining terms, as leases generally survive ownership transfers✓ Correct
CTerminate all existing leases with 30 days notice
DOffer all tenants month-to-month leases regardless of existing terms
Explanation
Leases generally 'run with the land' and are binding on subsequent owners. A new owner who acquires property subject to existing leases must honor those leases for their remaining terms.
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