Parking lot

[PayrollHRGuy]

@quincy

I assume that was aimed not at my post?

 

[Zigner]

Assumptions not supported by anything stated.

A personal review of the ACTUAL terms of sale is required to know where buyer and seller stand legally in regard to the leases currently in effect.

You are right - we're all making assumptions.

 

[Zigner]

@quincy

I assume that was aimed not at my post?

Nah, more at LdiJ, adjusterjack, and me, I'm sure

 

[LdiJ]

LdiJ, your scenarios are not supported by anything stated.

A personal review of the ACTUAL terms of sale is required to know where buyer and seller stand legally in regard to the leases currently in effect.

Of course they are not supported by what has been said. I have asked the OP to give more detail of the situation. They were merely examples of possibilities.

 

[PayrollHRGuy]

Rereading the OP he writes,

The contract did not include any information pertaining to any permits purchased from previous owner prior to the sale. After the sale, I was provided a list of people who purchased permits from him as a "courtesy" but he would be keeping the monies paid for those permits.

Sounds to me that the issue was completely ignored or it was agreed that the seller would keep already paid rents.

I have reached out to those people and let them know they would need to purchase new permits from me and should ask for a refund from previous owner. Previous owner is now threatening to sue me. Does he have any legal ground to stand on?

If the agreement was that he keep previously paid rents and the OP is taking actions that to make him pay those rents back to the renters then, yes, he has grounds to sue. If he isn't then the renters have grounds to sue the OP.

 

[not2cleverRed]

What is the name of your state? LA
I purchased a pay by semester parking lot near a university. The contract did not include any information pertaining to any permits purchased from previous owner prior to the sale. After the sale, I was provided a list of people who purchased permits from him as a "courtesy" but he would be keeping the monies paid for those permits. I have reached out to those people and let them know they would need to purchase new permits from me and should ask for a refund from previous owner. Previous owner is now threatening to sue me. Does he have any legal ground to stand on?

What did the contract include, then?

 

[quincy]

Of course they are not supported by what has been said. I have asked the OP to give more detail of the situation. They were merely examples of possibilities.

There are a lot of possibilities. Should we list them all? Or should Roobert (or an attorney in his area) read over his purchase documents to see exactly what he purchased and what he didn't?

 

[not2cleverRed]

There are a lot of possibilities. Should we list them all? Or should Roobert (or an attorney in his area) read over his purchase documents to see exactly what he purchased and what he didn't?

Rcobert.

(Minor quibble.)

Hopefully Rcobert will return and answer some of our questions, clarifying the situation.

 

[quincy]

Rcobert.

(Minor quibble.)

Hopefully Rcobert will return and answer some of our questions, clarifying the situation.

Thanks for the correction.

I think Rcobert would be better off having his purchase contract reviewed by an attorney in his area, to see what exactly it is that he purchased.

 

[adjusterjack]

You are right - we're all making assumptions.

Of course we are. That's where all the fun is.

 

[quincy]

Of course we are. That's where all the fun is.

You are easily amused.

 

[Rcobert]

You should have insisted (before closing on the property) that he transfer to you the prorated amount of money still unused for those permits. How much time was left on the permits?

We did. He refused and threatened to kill the deal if we insisted. The permits are for the upcoming spring semester.

Thanks for the correction.

I think Rcobert would be better off having his purchase contract reviewed by an attorney in his area, to see what exactly it is that he purchased.

We will have a local attorney review the contract tomorrow. I really appreciate the feedback and banter so far. To clarify, the parking lot was included with the purchase of an apartment complex. There was no language in the contract pertaining to the parking lot whatsoever. Weeks prior to closing, we asked for information pertaining to the parking lot and any purchases that had been already made for the upcoming (future) semester. The day prior to closing, we were informed that 3 purchases were made at 225 a space and that they would be keeping the monies paid. We asked our closing attorney to negotiate turning over all or part of those funds at closing (FYI, the apartment rents were turned over, pro rated of course). The attorney failed to reach an agreement on turning over the fees and the seller threatened to kill the deal if we pushed the issue. We decided to eat the loss and let it go. The day after closing, we were informed it was not 3 but now 8 previous purchases made at 225 a spot. I decided at that point to reach out to those purchasers and ask them to ask for a refund from previous owner and repurchase spots from me. I have also asked for proofs of purchase or receipts and as of yet received nothing.

 

[quincy]

We did. He refused and threatened to kill the deal if we insisted. The permits are for the upcoming spring semester.

We will have a local attorney review the contract tomorrow. I really appreciate the feedback and banter so far. To clarify, the parking lot was included with the purchase of an apartment complex. There was no language in the contract pertaining to the parking lot whatsoever. Weeks prior to closing, we asked for information pertaining to the parking lot and any purchases that had been already made for the upcoming (future) semester. The day prior to closing, we were informed that 3 purchases were made at 225 a space and that they would be keeping the monies paid. We asked our closing attorney to negotiate turning over all or part of those funds at closing (FYI, the apartment rents were turned over, pro rated of course). The attorney failed to reach an agreement on turning over the fees and the seller threatened to kill the deal if we pushed the issue. We decided to eat the loss and let it go. The day after closing, we were informed it was not 3 but now 8 previous purchases made at 225 a spot. I decided at that point to reach out to those purchasers and ask them to ask for a refund from previous owner and repurchase spots from me. I have also asked for proofs of purchase or receipts and as of yet received nothing.

Thank you for the additional information.

I think, based on the additional information you have provided, that you have little chance of defeating the seller in court should the seller sue you.

You say the parking lot and spaces were discussed and you agreed to "eat the loss" on the parking payments already made to save the purchase agreement. The payments were not included in the purchase contract you agreed to and signed.

But you should review the matter with an attorney local to you. The attorney might see this differently.

 

[Zigner]

We decided to eat the loss and let it go.

Well, there you go.

 

[not2cleverRed]

We did. He refused and threatened to kill the deal if we insisted. The permits are for the upcoming spring semester.

We will have a local attorney review the contract tomorrow. I really appreciate the feedback and banter so far. To clarify, the parking lot was included with the purchase of an apartment complex. There was no language in the contract pertaining to the parking lot whatsoever. Weeks prior to closing, we asked for information pertaining to the parking lot and any purchases that had been already made for the upcoming (future) semester. The day prior to closing, we were informed that 3 purchases were made at 225 a space and that they would be keeping the monies paid. We asked our closing attorney to negotiate turning over all or part of those funds at closing (FYI, the apartment rents were turned over, pro rated of course). The attorney failed to reach an agreement on turning over the fees and the seller threatened to kill the deal if we pushed the issue. We decided to eat the loss and let it go. The day after closing, we were informed it was not 3 but now 8 previous purchases made at 225 a spot. I decided at that point to reach out to those purchasers and ask them to ask for a refund from previous owner and repurchase spots from me. I have also asked for proofs of purchase or receipts and as of yet received nothing.

Well then, I guess you didn't want to kill the deal.

So, eat the loss, and let it go, unless he tries selling more parking spaces.