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I'm buying this house with tenants occupied. Possession is subject to tenants rights is one of the terms in the counter offer contract from the seller. What exactly does it involve? My Agent said it would mean I have to evict the tenants at my own cost but I would like more info.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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You would be buying the property and must honor any lease or rental agreement between the current owner and the tenants. If they have a lease, the owner should transfer to you (or credit you) any deposits he holds before closing.
If you're planning on occupying the property you must follow your local laws to non-renew or evict the tenants at the end of their legal occupancy.
You would be buying the property and must honor any lease or rental agreement between the current owner and the tenants. If they have a lease, the owner should transfer to you (or credit you) any deposits he holds before closing.
If you're planning on occupying the property you must follow your local laws to non-renew or evict the tenants at the end of their legal occupancy.
Thanks for the explanation. They are M-M tenants. I'd like to take the top floor back to live. What would need to happen if the tenants on that floor does not want to move out at the end of the month?
Thanks for the explanation. They are M-M tenants. I'd like to take the top floor back to live. What would need to happen if the tenants on that floor does not want to move out at the end of the month?
Assuming you give them a proper termination notice and they don't leave as of the deadline, then you would follow the eviction rules of your state. Try googling "landlord tenant laws <your state>".
I'm assuming your city does not have rent or eviction control like NYC, LA, Oakland, or SF. If you're in one of these cities with rent control, you must follow the rent control restriction when trying to remove a tenant.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,302,067 times
Reputation: 6471
Quote:
Originally Posted by rjrcm
Assuming you give them a proper termination notice and they don't leave as of the deadline, then you would follow the eviction rules of your state. Try googling "landlord tenant laws <your state>".
Yep. What he said.
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