Can a tenant with no lease be evicted in 30 days by the new owner?
Have agreed on price with a homeowner and will get the contract signed tomorrow. This is a deal I will be wholesaling (and will be my first deal, if it goes through). The property has a tenant who has been there for twenty years without a rent increase! The tenant is paying next to nothing in rent and missed this month's payment and the owner doesn't want to deal with the situation.
Since this tenant went into month-to-month status on that original lease many years ago, does that mean that the new owner (whomever I assign the contract to) can evict the tenant with a thirty-day notice? Basically, I'm trying to find out if there's anything I need to do to get this deal done other than get the property under contract and let the buyer know the situation with the tenant? This property is in Maryland.