“Can a developer who buys an apartment building (or duplex, four-plex, etc.) simply ignore an existing lease’s terms and give 30 days notice before knocking it down to build something new? Half the real estate developer/lawyer types I know have told me ‘no way.’ They say a contract is a contract and the new owner has to abide by that and let you live out the lease or offer a buyout. But the other half say there’s a loophole in Houston permitting that says if the new owner plans to tear down the building, once they have their variance granted, they can ignore the lease terms and just give 30 days notice to move out. Help! Do you have the definitive answer?” [Swamplot inbox]
About SwamplotSwamplot covers real estate, home design and renovation, architecture, and the landscape of Houston, Texas. Swamplot did not flood during Allison — or Ike! Honest!
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