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Updated almost 11 years ago, 12/06/2013
Question about bank owned property that is currently rented
I just bought my first rental property a bank owned property (4 units) that is fully rented with two of the occupants having leases through April of 14. I close on the 20th of this month, the bank has owned this property for about 6 months, my question is.....have the tenants been paying their monthly rent checks to the bank this whole time or will the previous rents have been put towards what the previous owner owed on his mortgage? I more curious than anything and haven't been able to find any answers.