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rent ownership

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mazz991

Member
What is the name of your state? new jersey I live in a apartment there is two owners of the house one owner ownes 75 percent the other owes 25 percent the one owner that onwes the 75 percent is in the process of buying out the other one the question is the owner that owes 75 percent says to pay him the rent plus in raise the rent from 800 to 1000 the other one says they get the rent who do I pay
 


mazz991

Member
I was paying rent to the one that owes 25 percent all the time now the one that has the 75 percent onwer says he is buying out the other owner and said that he raise the rent 200 hundred dollars and that he gets the rent not the other owner but now the other other owner that I was paying the rent to says that thsy get the rent
 

Zigner

Senior Member, Non-Attorney
I would continue paying rent as you have in the past until advised, in writing (by BOTH owners) to do otherwise.
 

LdiJ

Senior Member
I would continue paying rent as you have in the past until advised, in writing (by BOTH owners) to do otherwise.
I think that if the 75% guy is able to prove that he owns 100% of the property that that should be sufficient for the OP to start paying him directly. There is no guarantee that the 25% guy won't be a jerk and refuse to ever sign a letter to the tenant.
 

Zigner

Senior Member, Non-Attorney
I think that if the 75% guy is able to prove that he owns 100% of the property that that should be sufficient for the OP to start paying him directly. There is no guarantee that the 25% guy won't be a jerk and refuse to ever sign a letter to the tenant.
Yes, that should be sufficient...but why is it the tenant's problem to become a sleuth to verify that documents are legitimate?
 

LdiJ

Senior Member
Yes, that should be sufficient...but why is it the tenant's problem to become a sleuth to verify that documents are legitimate?
It shouldn't be. However, if the 25% tenant is ticked off or being a jerk in any way they are never going to sign a joint letter to the tenant...which could put the tenant in a world of hurt down the road if they continue to pay the 25% owner.

Its no different than being notified by any other new owner that the property has changed hands. There is rarely a joint letter issued to the tenant.
 

Zigner

Senior Member, Non-Attorney
Its no different than being notified by any other new owner that the property has changed hands. There is rarely a joint letter issued to the tenant.
EVERY rental property transfer I've been involved with included a letter from the prior owner advising that a new owner had purchased the property and giving the contact information for the new owner. I think you're "rarely" is not accurate. Why do you always make such broad statements? (See what I did there?)

Always? No. Frequently? I wouldn't have enough information. Sometimes? Sure. Rarely? I wouldn't have enough information. Never? No.
 

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