2007-05-17 02:42:29 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Yes, and the new owner has to honor your lease, nothing will change on your end.
2007-05-17 05:57:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The security deposit goes to the new owner. Make sure you keep your rental/lease contract for back up when you decide to move on. The contract should have the security deposit amount given to the owner. Also you should of received a receipt for the security deposit. And just for back up, call your local fair housing authority and asked them this question. Laws and regulations sometimes change from locals/states.
2007-05-17 02:49:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I in part consider the actual assets Agent, if the tenants are paying the lease why mess with that? on the different hand the reworking project won't artwork for you because of the fact at cases proprietors are made to relocate their tenants during redesigning. you will would desire to abide by way of the words of the lease contract and often it says that the two occasion can terminate the lease as long as you furnish 30 days written observe. verify the words of the lease and discover out what you will desire to do to terminate the leases on the tenants in case you fairly do no longer prefer them living there. additionally, seek for suggestion from with AN criminal expert FIRST. maximum cases the consultation is loose and it easily won't harm.
2017-01-10 04:20:06 · answer #3 · answered by leeks 4 · 0⤊ 0⤋
Yes. Items held in escrow, such as those you describe, transfer to the new owner of the property, as does your lease agreement. When, as a real estate broker, I am involved in the sale/purchase of occupied rental property, I always ask everyone involved to verify and sign documentation indicating what the values of these escrows are, such that there is no disagreement in the future.
2007-05-17 02:48:19 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
THey always remain the liability of someone, and in vitually all transactions, the new owner assumes the responsibility for those amounts. However, a sales contract can be structured so that the original owner maintains the obligations. This would be reflected in a higher purchase price.
2007-05-17 02:46:34 · answer #5 · answered by Homer J. Simpson 6 · 0⤊ 0⤋
Yes. And the new owner is responsible for holding the security deposit and prepaid rents just as the prior owner was.
2007-05-17 02:47:14 · answer #6 · answered by Anonymous · 0⤊ 0⤋
it is supposed to
2007-05-20 19:07:36 · answer #7 · answered by tennessee 7 · 0⤊ 0⤋