Which specific law governs contract related to rent and or property sale?
Monday, May 31st, 2010 at
8:09 pm
A person enters into a contract to purchase a property but title remains in the name of the seller for a year. Who gets to collect the rental from the property? Presupposing that the money for the sale is fully paid. What specific law applies to this situation?
Repossession
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Tagged with: Contract Purchase • Property Sale • rent property • Rental Property
Filed under: rent property
dont know but i think
propertysale i think
State Law would govern the contract, but, was it by negligence that the title was not transfered? The buyer, not the seller, should be receiving the rent if this was a legitimate sale of the property.
If you don’t own the deed/title, you do not own the property and therefore you are not entitled to any rent or any of the bundle of rights that comes with the property.
At this point, get a lawyer and force the contract.
Regards