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Sale of Rental Property
by Sunny
on February 16, 2020 @21:26
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Should there be some kind of legal document in transferring leases of rental property from seller to buyer, so that deposits will be deducted from the sale, and tenants can start paying rent to the new owner (buyer)? As you can tell this is my first time selling a rental property. By the way the property is in FL.
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Re: Sale of Rental Property
by lpadave
on February 17, 2020 @04:43
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The lawyer, title officer, realtor , escrow officer etc will handle that paperwork.
Just make sure they know the particulars of the tenancy.
What is important to you as the seller is a specific side letter acknowledging that buyer has received the security deposits and all leases
Although seller is not usually required to notify tenants of sale of property,..as a courtesy you might want to letyourtenants know of the sale after the fact
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Re: Sale of Rental Property
by lpadave
on February 17, 2020 @04:43
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[ Reply ]
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The lawyer, title officer, realtor , escrow officer etc will handle that paperwork.
Just make sure they know the particulars of the tenancy.
What is important to you as the seller is a specific side letter acknowledging that buyer has received the security deposits and all leases
Although seller is not usually required to notify tenants of sale of property,..as a courtesy you might want to letyourtenants know of the sale after the fact
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