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 liaoyu03
Joined: 09 Sep 2007
Posts: 166
4.00 Dollars($)
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 Posted: Wed Oct 03, 2007 12:21 am Post subject: can a house be sold? |
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| Can the house being leased be sold to another people? |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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| Posted: Wed Oct 03, 2007 1:37 am Post subject: RE: |
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Hi Liaoyu,
Generally, leased property cannot be sold off to some other person until and unless the lease period is over. But if the landlord has taken any mortgage which is left to be paid and he's unable to do so, then he can sell it or the lender might sell it through foreclosure. In that case, tenants have to move out and they can claim a certain amount of money. |
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livinginnky
Moderator
Joined: 08 Sep 2007
Posts: 637
29.96 Dollars($)
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| Posted: Wed Oct 03, 2007 10:05 am Post subject: |
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It depends. If you have a lease to buy or a land contract it may be possible. It should say in your contract what rights your lease gives you to the property. There are many ways to transfer a property to someone and it is not uncommon for a person to hold a lease with the right to purchase by a certain date. In this situation you could sell only if you do so in your allowed time.
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Eric Matthews
Mortgage Refinance and Home Loan Guide |
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