Term for Lease Contract for an apartment did not expire yet. But the leased property (apartment) was sold by the Lessor/Owner.
There is No notice that the apartment was up for sale already.
There is a provision in the Lease contract that in case of sale of the leased property by the lessor/owner, the Contract of Lease shall be deemed cancelled and the right of the Lessee to occupy the premises shall be automatically terminated.
1. Is the provision above valid and enforceable?
2. Can the lessor/owner sell the property even though there is still a Lease Contract over it?
3. Is the new owner supposed to respect the lease contract?
Thank you very much in advance.