So, I’m about to pay the rent to the new company that has bought the apartment building I live in. Then I start thinking, I signed the lease with another company. Does that lease still legally apply? If not, I am in sort of an awkward place now. I didn’t pay last month or a deposit to the previous company, so that’s not a concern. Can I go in and try to renegoitatiate a more favorable lease with the new guys?
I believe legally everything transfers to the new owner without breaking the lease.
Similar transactions happen when one cellular company buys out another while they have thousands of exsisting customers in contracts. The contracts stay in place.
Also if a bank you have a loan from is bought out by another bank. All agreements stay in place.
Yep, the lease is a contract, and when you buy a company you also buy its contractual obligations (unless other specified in a contract, but that’s unusual.) The new owner is bound by your lease until the term is up, at which point he can offer you a new one or kick you to the curb.