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Updated about 1 year ago,

User Stats

300
Posts
121
Votes
Alan DeRossett
  • Investor
  • Thousand Oaks, CA
121
Votes |
300
Posts

HUD Tenant death after 24 years,

Alan DeRossett
  • Investor
  • Thousand Oaks, CA
Posted

Muti family's tenant building inherited a Tenant a Daughter of a previous Hud tenant from 34 years ago. My Grandparents had given the daughter permission with HUD to continue living in the Apartment 24 years ago. Now the Daughter has died and the place will need some Upgrading to reach current market norms in the Area My question is what are my legal requirements to break up with HUD do not want to wait too long and have one of the relatives claim it for another 20 years. It is time for another Apartment owner to. The difference for me between HUD rent and current market rates is now a Car payment for me. and I'd like to buy a new car like my Tenant could afford to do. Do I need to send Hud a certified letter terminating the agreement? I don't Trust what advice HUd gives me.