My contract, which was prepared by a real estate attorney in my county, says 'tenant" will surrender the property in the same condition as when received".

Subject to the requirements of the Bankruptcy Code, in the event the Tenant is adjudicated as bankrupt, (or makes an assignment for the benefit of creditors), this Lease, at the option of the Landlord, shall terminate upon 30 days written notice and the Dwelling Unit shall be surrendered to the Landlord, who reserves the right to repossess the Dwelling Unit subject to the applicable provisions of law.Should I follow the steps on the contract?

Took many months of chasing to have record of my funding recorded in the portal.The deal failed and property surrendered in Dec, was not informed until Apr the following year by the operator, in Aug still waiting for official announcement and the MIPA to be provided.Co-sponsors Legacy Wealth Holdings(operator), Community Investment Properties – refused to help LPs that were not brought in by them.3/ Any lesson learned to help future investorsMy key takeaways from this experience are:In addition to doing due diligence on the investment, underwriting, & sponsors.Be very cautious of these joint co-sponsor deals, ask for and understand the partnership agreement before deciding to invest.Understand that co-sponsors oversee the interest of the LPs they bring in only.Avoid fund of fund / feeder fund investments, instead invest directly in the investing entity.If you value timely communications & receipt of investor updates, k-1s, etc, invest only with the deal operator.Ask for a walkthrough of the investment portal using live data in an actual active investment account to ensure its managed according to your needs.

Instead, it usually requires voluntary surrender by the owner, or a successful ejectment lawsuit suit.

. :)You want to refer to Iowa Code 562a Uniform Landlord and Tenant LawIn particular, read 562A.12, 562A.29 and 562A.33.I'm not an attorney but your case appears to fall under "abandonment" or "surrender."

Three years after the auction they can surrender their tax certificate and get a tax deed.

Now they own only half of that, meaning that they have to surrender half of the cash flow to Cousin B.3.

However, they include "bad boy" carve-outs that trigger full recourse if the borrower commits certain bad acts like fraud or voluntary bankruptcy filing.Abandonment may constitute default: If the GP abandons or surrenders control of the property during foreclosure, it could be considered an unpermitted transfer that violates the loan agreement and triggers the guarantor's full recourse liability for the unpaid loan balance.

I refuse to surrender!

More housing options, fewer pet surrenders, and a more stable living situation are some of the benefits.