Can I just forfeit a property?
I have a property in Detroit that I'm leaning towards walking away from but since my buyers backed out for tenant-related reasons I'm stuck. Can one just forfeit a property? No mortgage and in decent condition.
Most Popular Reply
Bill B.
#3 1031 Exchanges Contributor
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
Sell it to your tenant for a months rent. Or tell them if they make 5 rent payments they can have the house.