I don't see anything in my lease saying I cant sell. But I want to know what I legally can do. I need to sell now cause I am trying to prevent foreclosure.
2007-10-09 12:07:30 · 4 answers · asked by ceceshan 1 in Politics & Government ➔ Law & Ethics
Sell it with them in it. Transfer the lease to the new owner.
Good selling point as it's already rented and making money.
2007-10-09 12:11:58 · answer #1 · answered by tom 6 · 1⤊ 0⤋
You would have to sell it with a clause explaining what the current lease is.
The new owner would have to honor the lease until it expires.
You could always explain the situation to your renters, you never know... they may be willing to move and save you a lot of trouble.
2007-10-09 12:10:33 · answer #2 · answered by trooper3316 7 · 0⤊ 2⤋
If you own the house, you can sell it. The lease would go with the house, not be terminated by the sale. The new owner would take responsibility for the lease as aprt of the sales contract.
2007-10-09 12:13:19 · answer #3 · answered by fangtaiyang 7 · 0⤊ 2⤋
Hi,
If you know the bank is going to foreclose on the house and you need to sell it, then you have to tell the tenants of your financial situation. They need to find somewhere to live immediately.
You need to send them a letter ASAP that you have to put the house on the market and that you are canceling the lease.
Make sure you send the letter certified mail, return receipt requested. You should also return the security deposit to them ASAP.
2007-10-09 12:20:03 · answer #4 · answered by bernie 2 · 0⤊ 2⤋