Maybe, maybe not. Check your lease agreement, if there is a mutual no assignment clause then you might have grounds to rescind or even hold the LL in breach. This is a contract between you and your LL and he may be trying to sell his rights to your contract with the property. If it does sell, and the contract allows for assignments, then the new LL will assume the contract and its duties and obligations.
Hope that helped!
Thomas A. Schaeffer, Esq. Law Office of Juarez and Schaeffer PO Box 16216, San Diego, CA 92105 (619) 804-4327 www.jslaw.org This posting is provided for "informational purposes" only and should not be relied upon as "legal advice." Nothing transmitted from this posting constitutes the establishment of an attorney-client relationship. Applicability of the legal principals discussed here may differ substantially in individual situations or in different States.
Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.
A sale of the property would not per se provide a reason for either side to terminate the lease. The new owner would take the property subject to any existing leases. Also, your lease likely contains and "attornment clause" in which you agreed to accept a new owner as your landlord in place of the existing owner. Be sure to consult your own attorney to protect your legal rights.
Typically, leases are not affected by the sale of the underlying property. thus, the new owner has to keep you as a tenant, and your agreement continues as well.
Of course, you can always talk nicely with the new owner and ask them to terminate. Perhaps they will do so.