Posted by Unstoppable Ed on August 24, 2000 at 17:31:39:
In Reply to: LL didn't renew lease--help me Ed! posted by Amanda on August 24, 2000 at 16:20:04:
Without a lease you are considered a "month-to-month" tenant. This means either you or your landlord can terminate your tenancy by giving 30 days notice.
Your security deposit remains unchanged; assuming no damage to the apartment you will get it back irregardless of if you have a lease or not.
Many small buildings in NYC are sold vacant so if your landlord accepts an offer to buy it is quite likely that you will be asked to leave.
If by chance you remain in the building as a tenant of the new owners, your security deposit legally passes on to them to hold. This situation can get complicated, as sometimes the new owners will claim the previous owner never gave them a security deposit, etc. To protect yourself from this situation I would ask the old owner to return the deposit to you and give a new deposit by check to the new owners when you sign a lease with them. If this is not possible, then at least get some written confirmation from the previous owner that your deposit has been passed to the new owner, and let the new owner know about it.
Hope this helped !
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