NEW: BP Podcast 66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

Hide this

From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.

BiggerPockets

General Info

BiggerPockets Q&A, Site Questions, & Announcements

1515 topics, 14401 posts — Last Post 04/19/14, 04:46AM

BiggerPockets Exclusive PRO Area

117 topics, 839 posts — Last Post 04/18/14, 05:47AM

New Member Introductions

10886 topics, 85618 posts — Last Post 04/19/14, 04:58AM

Real Estate Success Stories

396 topics, 6154 posts — Last Post 04/19/14, 04:10AM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5935 topics, 46774 posts — Last Post 04/18/14, 11:05PM

Renters

643 topics, 5815 posts — Last Post 04/19/14, 03:38AM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

654 topics, 6264 posts — Last Post 04/19/14, 01:54AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3674 topics, 29452 posts — Last Post 04/19/14, 04:13AM

Real Estate Guru, Book & Course Reviews and Discussions

1133 topics, 11558 posts — Last Post 04/18/14, 11:03PM

Ask About A Real Estate Company

740 topics, 7318 posts — Last Post 04/18/14, 11:52AM

Real Estate Investing

Real Estate Strategies

Wholesaling

5603 topics, 43740 posts — Last Post 04/19/14, 04:24AM

Rehabbing and House Flipping

3333 topics, 30990 posts — Last Post 04/19/14, 04:50AM

Real Estate Development & New Home Construction

553 topics, 4683 posts — Last Post 04/18/14, 10:25PM

Innovative Strategies

703 topics, 6027 posts — Last Post 04/18/14, 08:48AM

Tax Liens, Notes, Paper, & Cash Flows Discussion

866 topics, 6677 posts — Last Post 04/18/14, 11:42PM

Rent to Own a.k.a. Lease Purchase, Lease Options

691 topics, 4871 posts — Last Post 04/18/14, 03:32PM

1031 Exchanges

143 topics, 1054 posts — Last Post 04/18/14, 08:41AM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1686 topics, 11285 posts — Last Post 04/18/14, 01:32PM

HUD, VA, and Tax Sales

414 topics, 3089 posts — Last Post 04/18/14, 12:05PM

REOs

1214 topics, 10570 posts — Last Post 04/17/14, 02:28PM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7201 topics, 70739 posts — Last Post 04/19/14, 04:55AM

Mobile Homes & Mobile Home Park Investing

638 topics, 5140 posts — Last Post 04/18/14, 03:22PM

Investor Basics

Starting Out

7699 topics, 60435 posts — Last Post 04/19/14, 03:35AM

Investor Psychology

431 topics, 6104 posts — Last Post 04/18/14, 06:08PM

General Real Estate Investing

4716 topics, 37183 posts — Last Post 04/19/14, 02:53AM

Real Estate Investor Marketing

1731 topics, 14093 posts — Last Post 04/18/14, 11:12PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1410 topics, 8985 posts — Last Post 04/18/14, 10:17PM

Multi-Family and Apartment Investing

1109 topics, 9224 posts — Last Post 04/19/14, 03:50AM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

639 topics, 4885 posts — Last Post 04/18/14, 02:57PM

Business Basics

Goals, Business Plans & Entities

831 topics, 7562 posts — Last Post 04/18/14, 04:25PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2785 topics, 20003 posts — Last Post 04/19/14, 03:34AM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2731 posts — Last Post 04/18/14, 04:33PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2832 topics, 19695 posts — Last Post 04/19/14, 02:40AM

Creative Real Estate Financing

1209 topics, 8768 posts — Last Post 04/18/14, 08:34PM

Crowdfunding Real Estate

35 topics, 461 posts — Last Post 04/18/14, 05:17PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1209 topics, 7988 posts — Last Post 04/18/14, 11:30PM

Bankers, Lenders, and Mortgage Brokers

441 topics, 1922 posts — Last Post 04/18/14, 09:39AM

Contractors

268 topics, 1678 posts — Last Post 04/19/14, 03:38AM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1988 topics, 11603 posts — Last Post 04/18/14, 10:42PM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 428 posts — Last Post 04/18/14, 04:22AM

Marketplace

Real Estate Marketplace

Real Estate Marketplace

15015 topics, 53950 posts — Last Post 04/18/14, 09:07PM

Real Estate Events and Happenings

164 topics, 2505 posts — Last Post 04/19/14, 12:04AM

Off-Topic

Off Topic

Off-Topic

2905 topics, 32408 posts — Last Post 04/18/14, 05:31PM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

Forums » Landlord & Rental Property Questions » Assigning Lease to New Owner

Assigning Lease to New Owner

5 posts by 4 users

Signup

· Fort Lauderdale, Florida


Has anyone sold (or bought, for that matter) a property with a tenant in place? If so, what is the proper way to assign the lease to the new owner/landlord, assuming the lease is freely assignable? Is there a good sample assignment agreement floating out there that someone wouldn't mind sharing?

Thanks.



· Michigan


The old landlord gives you the original lease(s). Nothing changes for the Tenants. No extra paperwork is needed, it is assumed that the new owner inherits existing tenants/leases.



· West Palm Beach, Florida


Not absolutely necessary, but a simple disclosure that there is a lease in place with rate, term and tenant name, signed by buyer.



SFR Investor · Annapolis, Maryland


I would think the transfer is laid out in your sales contract with the seller. Make certain it specifies you receiving the security deposit as I believe you will owe the tenant his deposit whether or not you received the funds from the seller. While the tenant and you are still obligated under the current lease, I actually asked mine before we bought it if she would sign a new one-year lease with us after we closed so I'd know she would stay a full year and that she had my info on where I wanted the rent sent, no confusion.



· Michigan


I know in MI law the seller is either required to transfer security deposits to the buyer or return them to the tenants and the new owner is responsible for collecting deposits. So the buyer can't get stuck without receiving, while being liable, for deposits. The law may vary state to state.





Sign up