Re: Change of Ownership Drama - Landlord Forum thread 360921

Re: Change of Ownership Drama by lpadave on November 3, 2020 @03:16

As long as your closing documents are clear in detailing that the tenants deposit was in fact transferred from you to buyer,... I think you're fine. It may take a letter or two from you to the tenant,...but the tenant's screaming at you isn't going to go anywhere.

Most form leases contain specific language about sale of property. Re read yours carefully, AND look up your laws.

I think your real exposure might be with the buyer if he was expecting to be buying a unit with a good performing market value tenant in place,....and staying.

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Re: Change of Ownership Drama by lpadave on November 3, 2020 @03:24	[ Reply ]

Also. Did you take move in. Or last inspection photos of unit for conditions, AND forward copies to the new buyer .? There may be a conversation between departing tenant and new owner over exit conditions,....with tenant claiming to new owner that the conditions existed when tenant moved in.

Re: Change of Ownership Drama by Thomas on November 3, 2020 @09:30	[ Reply ]

Thanks for the response. The lease does not specifically mention anything about the duplex changing ownership. I looked up our state's "Landlord-Tenant law" and the only thing I could find that might work against me is, "Landlords should provide written notice to tenants when ownership of the property is transferred to a new landlord". Even though the tenants were completely in the loop during the entire time it went on the market, and sold, the only written notifications I gave them was text messages--hopefully that constitutes as "written notification" if push comes to shove. Going to send that check for November's rent, and the vacate notice, to the new owner's property management company today. Hopefully that'll be the end of it, but I can't help but think this militant tenant has other things in mind. Any further advice would be appreciated, otherwise I'll let everyone know how it turns out later.

Re: Change of Ownership Drama by Thomas on November 3, 2020 @09:38	[ Reply ]

Also, forgot to mention, no I did not visually record the condition of the property when I left (good idea), but the buyer conducted a very thorough home inspection detailing every possible thing that would need addressing (with photos), so hopefully that would cover that possibility. And yes, the title company recorded within their paperwork that both security deposits were deferred from me to the new owner. Thanks.

Re: Change of Ownership Drama