Re: Buy out - Landlord Forum thread 358699

Re: Buy out by lpadave on October 24, 2018 @14:01

Your lease form should have provided for that. Your attorney or escrow agent on the sale / purchase agreement should be able to note that issue in the transaction paperwork. This is. A very standard matter in RE transactions

Send your tenants a note indicating ownership change and your transfer of they security deposit stating dolar amount transferred to new owner, with copy to new owner. State new owners address of record in that letter to tenants. You're done.

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Re: Buy out by mark on October 24, 2018 @17:32	[ Reply ]

Yes, you are absolutely right it is to be addressed at closing. Thanks.