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Updated about 3 years ago on . Most recent reply

User Stats

35
Posts
6
Votes
Alex Khodnev
  • Investor
  • Israel
6
Votes |
35
Posts

Delinquencny coverage funds sent to previous PM and cashed

Alex Khodnev
  • Investor
  • Israel
Posted

Hello everyone!

Here's the situation we have:
We closed on property 3 months ago, and had some past delinquency in the rent roll at the day of closing. We replaced the PM and the new guy successfully worked with the state's tenant support program to cover the past delinquency. By the chance, the check was sent to previous PM company and they cashed the check to the previous owner. These funds are to cover the delinquency the tenant had prior the closing, but all delinquencies were transferred to us and our PM worked that out with the State support.

Who that funds belongs to and is there any legal case to get them?

Thanks everyone in advance!

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