Change of Ownership Drama - Landlord Forum thread 360912

Change of Ownership Drama by Thomas on October 31, 2020 @11:33

Hi,
Yesterday I closed on a duplex (sold it). Also yesterday, one of the tenants has become agitated and informed me they no longer want to live there, and have "no intention of entering into any implicit deals" with the next owner. The sudden anger and uncooperativeness is surprising; if I had to guess, I think they're worried the new owner will raise the rent and that they may not get their full deposit refunded when they decide to move. Today, he sent an email informing me that a certified letter is coming to me denoting their 30 day notice to vacate, and that they've deposited next months rent into MY account--my guess is he thinks he will obligate me to honor his vacate notice/deposit return because he paid next month's rent to me (instead of new owner). Before I reply, reminding him that I am no longer the owner (as of yesterday) and will be required to transfer that money and vacate-notice to the new owner, I want to make sure I'm not missing anything???
Additional facts: 1) Yes, he was aware the unit was for sale, and had sold. 2) I had given them all the notices about FOR SALE/SOLD via text, not certified mail (is that a problem, I have no idea what I'm required to do with that--the lease mentions nothing about selling the unit). 3) Their lease is currently on a month-to-month, requiring landlord and tenants to give 30 days notice. 4) Title company has already deferred the amounts for security deposits for both units to the new owner at closing.
Really hoping I don't have to hire a lawyer, especially since I'm not even the owner anymore. That's another thing, how in the world do I find out who to send that rent money to (I don't have the new owner's contact info), contact the title company maybe? Ah, the joys of land-lording.
Please help!

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Re: Change of Ownership Drama by lpadave on November 1, 2020 @06:44	[ Reply ]

Drama. I am not a lawyer, nor do I stay in those special hotels, but my instincts tell me this may come down to the EXACT MOMENT IN TIME when you were advised of your tenants intentions. Before or after your literally and actually closed on the transfer of title. This would be the moment the transfer deed was fully signed by all parties,...NOT THE FILING TIME STAMP. I would speak to your real estate lawyer IMMEDIATELY for advise and probably follow their advise to forward all correspondence to the title / escrow / transaction attorney for forwarding to the new owner. The new owner may want that unit vacant,.....or not. It all could be fine,.......or not. Good luck. We live in interesting times !

Re: Change of Ownership Drama by lpadave on November 1, 2020 @06:49	[ Reply ]

Just also thought of this... Title insurance company may handle any claims. I don't know ........keep us all posted,..for our own continuing education !

Re: Change of Ownership Drama

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