Kids Buying Duplex

Expert, localized Los Angeles answers provided by Heather Roy

Kids Buying Duplex
	My son and daughter-in-law are thinking about buying a duplex in Pennsylvania and renting half of it to me. If there are existing tenants when they buy are they obligated to honor the leases or can they require that they move. Also, what is the marketability of a duplex especially in a slow market? Thanks

	If there's a lease, it '"survives the sale" and is just as binding on the next owner. If it requires a security deposit to be returned, by the way, the buyers had better make sure it's turned over to them, because they can be held responsible for it. If there's no lease, in most states one month's notice is all that's needed to get tenants out.
	Edith Originally published on October 30, 2007

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