Only if your lease states you must be notified. The new owner would have to live up to the terms of your lease with the original landlord before tearing the building down. If the owner fails to respect your rights as a tenant, you could take the case to court.

A recent Illinois Appellate Court ruling overturned the decision of a lower court on this matter. Historically, the courts have favored the associations, but in this instance, it said the association was duty-bound to repair and maintain the common elements and that the owner therefore had the right to withhold association fees. Condominium boards must now be more careful to carry out their responsibilities as outlined in the governing documents.