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Nov, 2014

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  1. #11
    Join Date
    Nov 2012
    Posts
    145

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    Quote Originally Posted by thesaint View Post
    You pay the price for the property. If he wants to forgive or pursue the debt, that is up to him.
    If he wants the money to himself, then he can evict them, and then you would have no claim to it.
    Thanks, I don't understand your second sentence, would you mind expanding on that?

  2. #12
    Join Date
    Oct 2006
    Posts
    7,431

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    Quote Originally Posted by Ricco E View Post
    Thanks, I don't understand your second sentence, would you mind expanding on that?

    The tenant owes the current landlord "x" amount.
    The landlord can evict the tenant, and the court will order the tenant owes "Mr Smith" "x" amount.

    The new landlord buys the property with vacant possession, and has no claim on any money any previous tenants may owe.

    Or, the current landlord files a money claim for "x" amount of rent arrears, and gets a judgement against the tenant in his name for the arrears.

    The tenant is still a tenant in the property, but has a clear slate, and the new landlord has no claim for rent arrears even if he does not provide a new tenancy, and lets the current tenancy carry on as a periodic one.
    Stalkers, please go over this comment with a fine tooth comb.

  3. #13
    Join Date
    Jan 2011
    Posts
    741

    Default

    I wouldn't want to inherit these tenants. Buy the property with vacant possession. Let the seller deal with the eviction and recuperating his losses.

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