My landlord sold the house before my lease is up. I agreed to move but he will sign papers 2 weeks before the date I move. He says he won't give me my $2,000.00 back until the day I move and return the keys to him & he inspects it. He will not own the house at that point. Is this illegal? I need the money to move and can not wait until that day. Should I get the money the day he signs the bank papers?
2006-09-15 04:37:53 · 5 answers · asked by erobichaud7 1 in Business & Finance ➔ Renting & Real Estate
Generally, you rental deposit is available after you move out and that the landlord has reasonable time to inspect the property. There is nothing much you can do about that. However, there is a little twist to this that you may be able to take advantage of.
Technically, when the landlord closes on the sale, he has to turn over your deposit to the new owner since your lease is not up until after the closing. You should be receiving the refund from the new owner instead. So it seems he has agreed to sell the house without a tenant and you are nice enough to accomodate him. That means you may have a lot more barganing power than you think because if you refuse to move out until the lease is over, the new owner will have to wait till you vacate or not close at all.
I think you need to tell him that in consideration for the early moving, you want him to inspect the property before you move out and receive your refund sooner. Your are willing to help him out, you expect some cooperation from him in return.
If he refuses, then tell him that as far as your deposit is concerned, you will only deal whith whoever the landlord is at the time of your moving out. The issue is not whether it is legal for the former owner to hold the deposit or not. Rather, you want to maintain the legal relationship between the landlord and tenant. If there is a disput and the landlord is holding the deposit, you are protected under well defined landlord/tenant laws. If the former owner holds your money, he can be gone in a heart beat and is going to cause a lot of aggrivations to track him down.
2006-09-15 05:06:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
First of all the landlord can indeed sell the house with you in it as a tenant.
However he has to disclose that, to the buyer, and arrangements on how your lease will be treated must be addressed in the offer and acceptance agreement. Unfortunately you do not have privity to that agreement therefore you don't know what will happen at closing regarding the disposition of your lease.
You've agreed to move prior to closing so the seller must of been required to sell the property without the lease (a guess).
Your lease tells you how the disposition of the $2k will occur and you as a tenant and the landlord are governed by the Landlord act of your state as to the disposition of that deposit.
If the buyer buys the house with you in it, he has inherited that lease (and the terms that must be abide by in the landlord act of your state) by virtue of the purchase agreement or by the fact that you have a contract with the seller that should have been disclosed to the buyer and it was not (their problem not yours). Your agreement to vacate should have been in writing spelling out the conditions of the change in terms to the original lease and in it, it should spell out how you will get your money back.
Sounds fishy, be careful and you might want to ask an attorney to stand by.
2006-09-15 12:40:56 · answer #2 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Current leases, rents and deposits are always assigned to the new buyer. This is typically a condition of the purchase/sale.
But since you are moving, then your contractual r/ship is limited to the buyer. After he sells the property, he is still bound by the lease r/ship and must refund the deposit (less damages) w/in 30 days. He is under no obligation to refund it before you move and he has performed his inspection or before the 30-day period has expired.
2006-09-15 14:35:08 · answer #3 · answered by boston857 5 · 0⤊ 0⤋
Usually the deposit is transferred to the new owners, but even if they do not get the money from the prior owner, they are still liable for it.
If I were you, I would call him and say that you refuse to move without getting your money back in advance. If he contracted to deliver the house vacant, he will be stuck and will most likely give you the money just to get you out.
Did you sign anything agreeing to move or to terminate your tenancy?
2006-09-15 13:00:28 · answer #4 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
I don't think he can sale it while your leasing it...thats breach of contract...if he wants you out, he should pay the money he owes you.
2006-09-15 11:47:13 · answer #5 · answered by Anonymous · 0⤊ 0⤋