I have a retail lease in a small building in a strip of shops. I have heard the landlord is considering selling the building. Where do I stand?
Lawyer Answers (1): Answers from lawyers are general preliminary responses. They are not formal legal advice and cannot taken account of all your circumstances. They do not create a lawyer–client relationship.
Answer by Robert Bailey, Adelaide 5000 SA
- Depending on the terms of your lease the landlord’s rights and responsibilities under the lease are usually transferred to the new owner if the building is sold.
- You can protect your rights if new owners know about your lease before purchasing. Leases can be registered with the Titles Office in most states and territories. This will give any new owner full notice of your lease.