| He's probably trying to avoid creditors. If he's owned the house for 20 years or so, he could be trying to re-basis the property by selling it to a few "strangers & "buying it back" for more than he paid for it originally. This would allow him to start depreciating the property all over again. This does not effect you, so don't worry about it. If you're really ticked at him, you might tell the IRS this is a sham transaction and he's still acting like the owner and collecting rent.
From a tenant standpoint, until someone tells you they now own the house & you have to pay rent to them, don't worry about it. However, when you move out, the owner is the person responsible for returning your deposit. If there are any deductions for damage/cleaning, THE TITLED OWNER must send you a letter detailing those deductions within 14 days or the owner has to return your entire deposit. If you want, you could record the lease with the county, which would put any creditors/buyers on notice that you have a right to live there until x/x/03. You'd probably be notified of any future closings/sales so you could make sure the deposit is transferred. OTOH, if you think the slumlord will keep the deposit, just wait and sue the actual owner for wrongful retention of the deposit. Don't contact the 'landlord' at all. Let the owner try to tell the court why he let someone else collect the rent on his house but never notified you that Slumlord was no longer the owner.
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This post does not constitute legal advice, nor does it create an attorney-client relationship. Postings are based only on the information provided and you should consult an attorney in your area before relying on information contained in this post.
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07-11-2003, 10:54 AM
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