lease after building purchased

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Country: United States of America
State: Florida

I own a small Speech Pathology clinic. The building in which I am renting my clinic was bought out. My contract states that I have the option to renew my lease for 12 months. The new owners of the building are insisting that they will not renew my lease because they want to use the space themselves. They are honoring the contract of another business in the complex which had a 5 year lease. Do they have to honor mine and allow me to stay here for at least another 12 months?

Answer

Your lease is valid and they normally must buy the building subject to the existing leases and lease terms...

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