Tenant further agrees that all alterations or repairs to the rental property will be performed only by personnel approved and sanctioned by the Landlord in writing.While not in "legalease" you could have your Council or paralegal translate it into formal clauses for inclusion in your lease document {we purposely try to keep our Schedule A in everyday language, but did have it reviewed by our Council}

Only the lender has the power to agree to a 3rd party acquiring title to the property and permitting loan assumption.I've acquired countless properties from estates 'subject to' the existing mortgage(s) but have only bothered to formally assume one..

So, this is my first time doing a formal process for finding a tenant for our rental property.

The house is setup as two separate units - for the most part - and could formally be converted into a duplex with little additional effort.

I need help on the formal way to transfer the leases and security deposits.

If your entity is otherwise adequately capitalized and insured, and the formalities for establishment and maintenance of the entity properly honored, I would not worry about it.If that is all a creditor attorney has to try to get to you personally, that attorney is in trouble."

Though not formally documented, in practice our hard cutoff has been 2-weeks - where we will charge a half-months rent - but rarely have we ever given more than a week as a concession.

I'm also in the process of requesting formal crime records documents.

I didnt want to get another attorney involved yet since that seems so formal and we have a personal relationship.

Yep, that is the gist of it.Remember, how the actual formal accounting takes place will influence these ideas in regards to what is a realized gain or not.