Landlord sold the house to new owner, and asked us to leave

[GiorgioFurioso]

Maybe I'm wrong, but it sounded like the OP is living in the basement of a single family home. Is that not the case?

That's what it sounded like, but for all my involvement in this thread, I don't really know much about the OP

This is an area where my knowledge of tenant law gets thin, but I believe that even if it was a single family home, but the owner rented out an illegal space like the basement or an in-law unit, that illegal space is now covered under rent control. So the OP is good, and his landlord's brought this mess (if that's what you consider it) on themselves for renting an illegal space in the first place.

 

[GiorgioFurioso]

Not if it's an asset purchase.

If you're just buying assets, you're not buying the business. Sure, sell the couch from your house, and the couch's new owner doesn't have to let the old tenant sleep on it.

 

[tzrider]

If you're just buying assets, you're not buying the business. Sure, sell the couch from your house, and the couch's new owner doesn't have to let the old tenant sleep on it.

You can pretty much buy the whole business and leave the seller to cover the liabilities with the proceeds.

 

[planegray]

Steve, surely you know that when you buy a business, you get not only its assets, but its liabilities as well?

If the liabilities were not fully disclosed to the buyer, then the seller is going to end up having them back.

 

[AbsolutEnduser]

If the liabilities were not fully disclosed to the buyer, then the seller is going to end up having them back.

Dude.

 

[GiorgioFurioso]

You can pretty much buy the whole business and leave the seller to cover the liabilities with the proceeds.

I didn't realize that was a thing!

 

[Archimedes]

The term 'asset acquisition' doesn't necessarily mean you didn't assume any liabilities. It simply means that you didn't acquire the equity of the company and all of the associated rights and obligations related thereto. Most asset acquisitions involve the assumption of certain liabilities as well.

 

[tzrider]

The term 'asset acquisition' doesn't necessarily mean you didn't assume any liabilities. It simply means that you didn't acquire the equity of the company and all of the associated rights and obligations related thereto. Most asset acquisitions involve the assumption of certain liabilities as well.

Some do, some don't. It's up the the buyer what they are willing to acquire (and to the seller what they will accept).