I have a lease/purchase contract.The tenent put $2000 down towards the purchase price.They have only made 2 payments,the last payment was with a personal check that was returned from the bank because the account was closed.
2006-10-17 01:53:25 · 9 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Your remedy for your tenant's failure to pay rent is eviction. The procedure is different in every state and tenant's have certain rights that are provided by law.
You must follow your state's eviction procedure explicitly or you risk being held liable for wrongful eviction and other possible sanctions. The good news is that evicting someone for failure to pay rent is, in most states, a simple process. You can find out how to do it by calling the local clerk of court's office. They have all the necessary forms and usually will have an instruction sheet for you to follow.
Your purchase contract is a different matter. How you deal with the down payment and any other equity that the tenant has acquired in the property by making payments is dictated by the contract.
2006-10-17 02:26:53 · answer #1 · answered by kransdorff 2 · 0⤊ 0⤋
It really depends on what state you live in, but for most states the answer is you tell them in writing they have 72 hours to pay the amount agreed upon in the lease or eviction will be necessary and enforced. After that if still no payment you need to send an eviction notice and turn in the amount to a collections agency.
Check over your lease and make sure you are following your own lease accordingly also and check your local sheriff's office for the time allowed before evicting a tenant. Every state has their own guidelines, but most go by this. Good luck
2006-10-17 02:09:12 · answer #2 · answered by determined26a 2 · 0⤊ 0⤋
I hope you have a contract with the tenant. You can go to court. In some states you have to get the law to evict them. Some states you have to give so many days notice to evict them. You really need to talk to a lawyer. You need to have pictures of the place before and after they moved in and out.
The biggest thing is the contract.
2006-10-17 02:04:30 · answer #3 · answered by jen 4 · 0⤊ 0⤋
One of the terms of any contract is the amount and method of payment to be performed on. If that term is not performed on by the party required to perform such act then that party is in default and according to the terms of the original contract there has to be steps performed that are required under the contract to inform the defaulting party of their contract default. After that there are other steps that are required to first default and second evict the party in default. Because we live in such a litigious society and on these types of issues it is always wise to hire an attorney to represent your interest in such acts. You can research for attorneys or for information on default issues in the following links:
American Bar Association: http://www.abanet.org/about/ or http://www.abanet.org/statelocal/home.html
Buena Suerte
2006-10-17 02:08:52 · answer #4 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
Evict them. The purchase contract is void if they break the lease. And they did.
2006-10-17 02:02:02 · answer #5 · answered by tbear 5 · 0⤊ 0⤋
Eviction.
2006-10-17 02:00:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It relies upon on how your hire option contract is written. in lots of cases if the "shopper" isn't paying their lease, they are are in default on the contract allowing the owner, you, to evict and keep the huge deposit commonly linked with a hire with option to purchase. in spite of everything you sometimes could desire to offer them 30 days for the tenant to bypass away the valuables which will additionally be translated into the quantity of time they could desire to actual purchase the valuables besides (which isn't probable). actual it quite is like calling of their option for the reason that they have defaulted on the hire. in the experience that your contract would not specify this situation, you will probable could desire to return the deposit (much less any costs /unpaid lease). If the tenant begs to make stable, have him sign a clean contract with this particular situation secure to guarantee your self which you will keep the deposit.
2016-11-23 15:45:51 · answer #7 · answered by delma 4 · 0⤊ 0⤋
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2006-10-17 02:41:43 · answer #8 · answered by andy e 1 · 0⤊ 1⤋
You evict them.
2006-10-17 04:52:10 · answer #9 · answered by kingstubborn 6 · 0⤊ 0⤋