Deed Transfer (lease agreement, tenant, renter, house)
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I am currently renting a house from an individual. This owner recently transferred the Deed to this home to a Business LLC, which is now reflected as the owner on the city CAD site. Is the owner required to make a new lease agreement showing the 'LLC' as the owner rather than herself?
Unfortunately I do not have what is considered a 'typical' rental agreement. And both the owner and management company have been extremely difficult to communicate with.
This is what I found in my lease as it pertains to assigns:
Agreement of Parties:
Binding Effect: This lease is binding upon and inures to the benefit of the parties to this lease and their respective heirs, executors, administrators, and permitted assigns.
This is how it reads on the first page of the lease contract;
1. PARTIES: The parties to this lease are:
the owner of the Property, Landlord,: ..:=---Ms. Jane Doe------------------
~------------~----------------------; and
Tenant(s): Ms. Renter
That is my concern, I am in mid-lease and I am making payments to the Owner/Landlord (Jane Doe), but recently moved ownership to a Business LLC. This was done by signing over the deed to the LLC. I understand the protection the LLC offers an individual. I am only concerned with their responsibility to the contract and making the applicable changes.
Properties are bought and sold every day. It would be a hell of a mess if every single
lease and other contract needed to be re-written because of the sale.
That said, the owners (old & new) could save them selves a lot of trouble
by simply sending out a letter to each tenant and laying it all out.
Have YOU called to ask?
That is my concern, I am in mid-lease and I am making payments to the Owner/Landlord (Jane Doe), but recently moved ownership to a Business LLC. This was done by signing over the deed to the LLC. I understand the protection the LLC offers an individual. I am only concerned with their responsibility to the contract and making the applicable changes.
You can also refer to your state landlord tenant regulations as many require under the law that a lease transfers intact between owners.
I was not able to locate anything pertaining to this specific topic under the Texas state landlord/tenant agreements. That is what led me to reach out in this forum.
My condo is/was owned by an individual, and rents it out through a local (Dallas) realty company that manages it for her, the owner lives out of state. Recently the condo was damaged from a water leak caused by the owner of the condo upstairs. I lived with those conditions for 32 days before the owner started any repairs. During repairs, I had no A/C, toilet or shower and lived in a hotel for 12 days. My contract reads that the owner can make repairs however they like and do not need to confirm with me. With that understanding, the owner had lied about having contractors do the repairs and having a mold remediation technician inspecting the damage as well. I know that the wood in the walls were not treated, cleaned or removed from mold, this has caused concern with the adjoining condo units. Basically, nothing more I can actually do. During this time of mediocre repair is when I learned the owner had transferred the condo deed to this fictitious business name, LLC. I am wanting to know if the change of ownership could possibly provide me a 'way out' of my lease without possibly facing penalty or eviction. Bottom line, is the owner I signed the contract with obligated to inform me that they NO LONGER OWN the property, thus not making it valid until a new agreement is drawn indicating the new ownership?
What would be the reason an owner would not notify the management (realty) company, or myself (tenant) that they have sold the condo?
Your lease is still valid,. Most sales will have to honor the lease. If it wasn't, the new LLC could kick you out.
It's no big deal. Maybe the next lease will have the LLC name, maybe not.
I do it all the time.
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