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Updated over 10 years ago on . Most recent reply
Am I Entitled or NOT?
I am purchasing a multi unit here in Las Vegas, and we set to close on the 23rd of this month and well there has been a sticking point as of today.
It is so small in nature and I am confident it will not change the outcome of this transaction, but I still need to know who is Entitled to the money!
Here are the facts -
The current owner signed a lease with a laundry company for the laundry room in Mid April for 60 months.
The services from the laundry company are to start the beginning of August (2 weeks away)
I am currently in escrow for this property and set to close the 23rd of this month.
The laundry company advance paid the current owner 1200 dollars for the lease and contract.
My question to you who is entitled to the $1200?
Me because I am carrying the lease, and It lease date does not even start until after I am the owner of the property.
Or the seller because he signed the contract in the first place and there for is entitled to the money?
The exact terminology on the contract that was signed by the seller - "Lessee to pay lessor a one time only payment of additional rent in the amount of one thousand two hundred dollars ($1,200.00) within 30 days after Lessee's Home Office approval of this lease."
I tried to be as unbiased as possible in my description of the situation and would appreciate any and all feedback.