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Updated over 9 years ago on . Most recent reply

User Stats

63
Posts
14
Votes
Catherine W.
  • Investor
  • Columbus, OH
14
Votes |
63
Posts

Selling a property with a tenant in it

Catherine W.
  • Investor
  • Columbus, OH
Posted
We are selling a duplex that is currently occupied on one side and vacant on the other. The tenant in the occupied side has expressed interest in moving out if the house is sold. Her lease isn't up until June 2016. Any guidance on what her rights are in terms of being able to move out if she wants to upon sale of the property? We are in Columbus, Ohio.

Most Popular Reply

User Stats

66
Posts
23
Votes
Philip Cutting
  • Virtual Assistant
  • Reynoldsburg, OH
23
Votes |
66
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Philip Cutting
  • Virtual Assistant
  • Reynoldsburg, OH
Replied

I'm going to gues that she does't have the right. I would have to see the lease.  

Note that I'm not an attorney, but the sale of the asset shouldn't qualify any disregarding of the lease, which is also an asset. 

I've often heard people say hey will move and don't. Sometimes I wish they would :). The point is that a good introduction should cure the problem. 

Also, it might be worth pointing out that just because you buy the house you may not automatically buy the leases as well. I think it's safe to add a clause saying the leases are part of the deal. 

I would call Buddy Marks if you are concerned.  He is a local re attorney. If you don't already have his number, try (614) 258-9300

If you find out that any of this is wrong advice, and it might all be totally wrong, please post a follow up. 

Good luck!

Phil

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