Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 9 years ago on . Most recent reply

User Stats

185
Posts
57
Votes
Katrina P.
  • Investor
  • Randallstown, MD
57
Votes |
185
Posts

Purchaser defaulted on LC pymts; can I collect rent from tenants?

Katrina P.
  • Investor
  • Randallstown, MD
Posted

Hi BP Family,

So, I'm in a bit of a sticky situation.  I sold a property on Land Contract (in Michigan), and the purchaser defaulted on payments one month after signing the LC.  It's been a long time  (so long it's too embarrassing to say), and now I am going through the forfeiture of LC proceedings.  I also have to pay back taxes for the last 5 years before the county gets the house.  I have been in touch with the current tenants, who the delinquent purchaser has leased to.  They are willing to redirect their payments to me, since they know I am regaining ownership of the property.  It can take up to 4 months for this to happen.  My question is can I redirect their rental payments to me since he has completely disregarded his responsibilities, and I am regaining ownership?  What's the risk for me and the tenants?  I know this is a legal question, but any input is appreciated

Loading replies...