If your apartment building is sold and you owe back rent then who do you owe it to? the old landlord or the new one?
2007-11-11 16:33:25 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Your debt should now be owed to the new owners of the building. When any asset is sold to another party the new owner also assumes any assets and liabilities associated with the property/asset. All rights to the previous owner on the property are lost after changing hands.
Good luck!
2007-11-11 17:02:02 · answer #1 · answered by Jason M 3 · 2⤊ 0⤋
Generally, in such sales, past due rents are the responsibility of the former owner to collect. You owe rents to the new owner starting on the day ownership changes. If the sale occurred mid-month, rent prorations are usually handled between owners at the time of sale.
Your new landlord should be contacting you relative to new payment arrangements shortly. In either scenario, you still owe the back rents, and one owner or the other will be coming to you soon for collection.
2007-11-12 07:04:54 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
The former owner was probably charged on the closing statement.
So the new owner already received a credit for your rent payment.
I would make my payment as directed (by the new owner) and make sure to get a receipt.
2007-11-12 00:43:06 · answer #3 · answered by Anonymous · 2⤊ 0⤋
New owner purchased the "accounts receivable" as well as the building.....your deliquent rent is a receivable...pay the new guy.
2007-11-12 00:44:45 · answer #4 · answered by Paula M 5 · 2⤊ 0⤋
The old one because they used the building for rental pourposes. The new owner can do whatever he wants with the land once its his. He could bulldoze it if he wanted.
2007-11-12 00:40:29 · answer #5 · answered by girliewondering 2 · 0⤊ 2⤋
That is a hard one
I would say the old landloard
2007-11-12 00:40:15 · answer #6 · answered by plum1955 2 · 0⤊ 2⤋