What are the legal obligations of a tenant when a rental property is sold?
In Alaska, the legal obligations of a tenant when a rental property is sold depend on the type of tenancy agreement between the tenant and the former landlord. Generally, the sale of the rental property does not release the tenant from their contractual obligations to the former landlord. This means that as a tenant, you are still legally bound to honor rent payments and all other obligations specified in the rental agreement. If you are a tenant with a month-to-month rental agreement, the new owner of the property is required to honor the terms of the agreement for the remainder of the term or, if the new owner wishes to make changes to the terms, they must provide the tenant with at least a 30-day notice and cannot change the terms mid-term. If you are a tenant with a fixed-term rental agreement, the new owner is also required to honor the terms of the agreement for the remainder of the term. However, the new owner may be able to terminate the agreement upon giving the tenant proper notice. The notice period depends on the length of the rental agreement and whether the tenant has been living in the rental property for more than two years. In either case, the tenant must cooperate with the new landlord in allowing them to inspect the property and must continue to abide by all applicable laws and ordinances. Failure to do so could result in the tenant facing eviction.
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