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Oral Agreement to renew lease

Posted by Manute on June 17, 1998 at 12:32:39:

A couple of months ago my landlord (owner of condo unit) and I, through a
series of phone calls, came to an oral agreement to re-rent my apartment for
a specified price for another year. I relied on this agreement and thus did
not pursue several other housing opportunities.

Several days ago (50 days before my lease is to expire), he calls me and
tells me he has decided to try and sell the place, but that I can stay on
month to month once the current lease term is up until he actually closes
a deal, whereupon he will give me 60 days to move out.

I've done a little bit of research, and NY law says that an oral lease for
not greater than 1 year is valid, so I think that we have a lease for an
additional year, correct?

I assume that price and term are the main material terms that need be
included, and everything from our original lease is incorporated by
implication. Our original lease did not allow them to sell the apartment
during the lease term (we actually struck such a provision out of that
lease) and thus by implication I would assume that this applies to our
new oral lease for the additional year, correct?

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