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Updated about 6 years ago on . Most recent reply

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305
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88
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Remone R.
  • Auburn, WA
88
Votes |
305
Posts

Is this legally binding in Texas

Remone R.
  • Auburn, WA
Posted
Does anyone know in Texas if this is legally binding. So we’re looking to purchase a duplex owner occupied with 2 tenants in place at the moment, Unit 1 until August 31 and Unit 2 until April 30th. Now the most logical decision would be to move into Unit 2 once her lease is up in April, but she has been there for 9 years and doesnt want to leave and Unit 2 has stated they would move out sooner if possible to get a bigger apartment. Now my realtor wants the seller, tenants and us to sign termination of contract stating the tenant will move out within 30 days after closing and will receive their whole deposit back in return minus damages. Now my question is will this hold up in court if after closing the tenants change their mind and doesn’t want to move out?

Most Popular Reply

User Stats

55
Posts
47
Votes
Michael Gefvert
  • Attorney
  • Columbus, OH
47
Votes |
55
Posts
Michael Gefvert
  • Attorney
  • Columbus, OH
Replied

Are you willing to stake your future on the BP commentariat?  For much less than the cost of what you would be facing if this whole thing falls apart you could retain a Texas real estate attorney to advise you on how best to accomplish your goal and draft the contract for you.    

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