What is the result of a lease if a property is sold and the new owner is not aware of the existing lease?

When a property is sold, existing leases typically remain in effect, even if the new owner is not aware of them. This principle is grounded in the concept of "property rights" and the enforceability of leases. The original lease agreement is a legally binding contract between the landlord and tenant, and new property owners generally assume the rights and responsibilities associated with the property, including any leases that were in place before the sale.

Thus, the lease continues to be binding on the new owner, meaning that they must honor the terms of the lease until its expiration or until the lease is legally terminated by mutual consent or other lawful means. This protects the tenant's rights and provides stability in rental agreements, ensuring that tenants can rely on the validity of their leases even amid changes in property ownership.

The other options imply scenarios where the lease would be negated or require renegotiation, which is not generally the case under property law unless specific circumstances apply.