rent ownership

[LdiJ]

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.

Yes, but you are not talking about a joint letter, and I was. You are talking about a satisfied seller who advises their tenant that there is new ownership.

Lets give a classic example of an unhappy "seller"...someone who has lost the property to foreclosure and tries their dangest to keep collecting rent even thought they no longer own the property.

Obviously there is some kind of bad blood between 75% owner and 2% owner in this case. So, what odds do you think that there are that a joint letter will be issued?

 

[Zigner]

Yes, but you are not talking about a joint letter, and I was. You are talking about a satisfied seller who advises their tenant that there is new ownership.

Lets give a classic example of an unhappy "seller"...someone who has lost the property to foreclosure and tries their dangest to keep collecting rent even thought they no longer own the property.

Obviously there is some kind of bad blood between 75% owner and 2% owner in this case. So, what odds do you think that there are that a joint letter will be issued?

I don't disagree that it might be difficult to obtain a notice from the 25% owner, and the tenant may need to find alternate methods of verifying what he is told.

I do disagree that notice from the seller is "rarely" given. The letter(s) can be joint or separate. I agree that the buyer of the property really doesn't need to contact the tenants, but, if I were the tenant, I'd sure as heck want to verify the information so that I can make sure the new LL gets the money.


Having said that: It doesn't matter. As you and I are both saying (or trying to say), the tenant needs to make sure he's paying the right person by whatever means is necessary.

 

[FarmerJ]

As to the two owners your county property tax desk can tell you if they both are listed as owner on the tax bills if your curious to know , AS well as the county property tax desk can tell you how long it takes to change the information they have when owner information changes are filed. Other wise If it was me I would seriously consider sending one rent check with both their names on it via confirmed mail delivery and let them battle it out. AS to future payments politely tell the one who will be the sole owner , in the past you know I paid (name) instead of you and im a bit nervous about paying just you if there is a chance that ( name) could cause me legal problems such as trying to evict me for non payment. BTW if the new LL wants to raise the rent did you get a proper written notice of the change ? The new sole owner should get it and make it easy by showing you a copy of the transfer or show you something that would let you see they now are sole owner

 

[LdiJ]

I don't disagree that it might be difficult to obtain a notice from the 25% owner, and the tenant may need to find alternate methods of verifying what he is told.

I do disagree that notice from the seller is "rarely" given. The letter(s) can be joint or separate. I agree that the buyer of the property really doesn't need to contact the tenants, but, if I were the tenant, I'd sure as heck want to verify the information so that I can make sure the new LL gets the money.


Having said that: It doesn't matter. As you and I are both saying (or trying to say), the tenant needs to make sure he's paying the right person by whatever means is necessary.

Yes, we are both certainly in agreement on the bolded.