Do I have to pay rent before closing?

Do I have to pay rent before closing? by Ronnie C on February 5, 2012 @12:32

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I'm in the process of buying the home I've been renting. My rent is normally due on the 5th of the month. I've signed the Act of Sale on 1/31/12. And it was executed to the judge on 2/02/12. I have my funds in order and I'm waiting on the seller to complete their side. Should I have to pay rent until the sale is final?
Thanks,

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Re: Do I have to pay rent before closing? by LL (CA) on February 5, 2012 @12:45	[ Reply ]

Isn't this covered in the sale documents? Maybe you should have a look through them or ask the seller.

Re: Do I have to pay rent before closing? by Katiekate (New York) on February 5, 2012 @12:48	[ Reply ]

I don't know where you are, but here in New York, but once the Purchase and Sales agreement is signed by Seller, AND the buyer has execute the sale itself.. It is done. Since you concluded all that before the new month (Feb.) I don't see you are responsible for the rent from Feb. onward. You are the new owner. If buyer would not have any just cause to cancel the sale AFTER the final execution by the buyer. Any and all disputes concerning the sale needed to be in a legal notification to the buyer LONG before now!!

Re: Do I have to pay rent before closing? by A.T.SF (CA) on February 5, 2012 @14:11	[ Reply ]

I would think that if the final papers have not been executed you might be paying a pro rated rent.

Re: Do I have to pay rent before closing? by Anonymous on February 5, 2012 @22:51	[ Reply ]

Iam pretty sure you would only have to pro rate your rent for the days you are not the owner which won't be much.