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Does a real estate purchase agreement supersede a lease when both?

If a tenant and landlord have a lease agreement, and then they execute a purchase agreement, the lease would end when the tenant purchases the property. It only makes sense: the tenant pays rent to the landlord. When the landlord no longer owns the property, s/he has no right to collect rent. So, yes, the purchase/sale agreement supercedes the lease, though the legal term would be that lease (tenancy) terminates.