If a resident who is 18 years of age resides in a six flat apartment building and the property is sold, what happens to their lease?

When a property is sold, the existing leases associated with the property typically remain in effect. This principle is rooted in the concept of "leasehold estate," where a lease represents an agreement between the landlord and tenant that is legally binding regardless of changes in property ownership. Therefore, the lease continues to be valid, and the new owner assumes the role of the landlord, inheriting the rights and responsibilities of the lease.

In this situation, since the resident is 18 years old, they have entered into a legal contract for their lease, which remains intact despite the sale of the property. The new owner must honor the terms of the lease until it expires or is lawfully ended through other means according to applicable laws and the lease provisions.

The other options suggest various outcomes that do not accurately reflect the legal protections provided to tenants in Illinois and many other jurisdictions when a property changes ownership. These options imply modifications or termination of the lease that do not align with the standard legal principles associated with lease agreements.