Knowledebase Tag: Lease
- The tenants in a property I manage are a couple whose names are both on the lease. This week, they each told me that they are divorcing and gave me the required written notice to terminate their lease when it expires next month. They also both asked for the security deposit to be refunded directly to them. Who should I make the check out to if both of their names are on the lease?
- The owner of a home that I have been leasing and managing recently passed away. Her will left the property to her son and daughter. Her son is also the independent executor of her estate. When listing the property for sale, the son, who is an attorney, told me that he is not required to provide a seller’s disclosure notice. Is he right?
- A seller received an offer on his home, but he needs to stay in the property for two weeks after the buyer’s proposed closing date. Both parties are OK with a temporary-lease situation, but the buyer’s agent says the Seller’s Temporary Residential Lease (TREC 15-5, TAR 1910) must have a daily rental amount in Paragraph 4 to be effective. The seller says his agreement to sell the property with an early closing date should be sufficient consideration for the temporary rental and doesn’t want to pay a daily rental fee. Can the parties enter into an effective temporary lease without a daily rental amount in Paragraph 4?
- My seller is closing next week, but will stay in the property for 30 days after closing under a temporary lease. Does the buyer still get a set of keys at closing?
