What Happens to Your Lease in Illinois When Your Landlord Sells the Building?

This question came from one of our users:

What happens to your lease in Illinois when your landlord sells the building?

Property law is simple within its terms of agreement. When a property is sold, it is typically considered that the new owner inherits all the terms with the tenant and the previous landlord (Legal Clarity). For fixed-term leases, the new owner will be bound legally to the conditions of the agreement that you signed (until its expiration) (Legal Clarity).

According to the Illinois Attorney General's Landlord and Tenant Rights and Laws, you should demand a written lease to avoid future misunderstandings with your landlord. Therefore, typically, a landlord can not end your lease just because they want to sell a house or apartment. 

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As aforementioned, a landlord is allowed to sell a building that he owns, and therefore, the new owner must keep the previous lease agreements. Distinguishably, the new landlord does not have to renew your lease if they choose not to (Illinois Legal Aid). However, with fixed-term leases, the new owner is legally bound to maintain all the agreements and terms of the contract, including the rent amount and the lease duration (Legal Clarity).  

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Overall, the same rules, agreements, and policies apply to the new landlord as the old landlord created them, as long as there are no violations of the Illinois General Landlord and Tenant code. Therefore, unless the landlord gives reasonable notice, typically 30 days, you will not be forced to move out. However, the decision to renew your lease will be passed on to your new landlord.  
 

Designed for general information use only. The content above does not constitute legal advice or the formation of an attorney/client relationship.