- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Question.. Interesting Tenant Landlord situation.
Posted on 3/26/23 at 1:12 pm
Posted on 3/26/23 at 1:12 pm
Got a money/property related question. Just curious about everyone's thought here on this matter... ANd how people think. And its not a hypothetical.
You own a house that you picked up 20 years ago.
You work a deal with a guy on a lease purchase of the house. $500 per month for 15 years.
The guy pays his rent monthly, regularly, on time, never late for 15 years just as the contract states.
almost 15 years later and exactly 1 month before he makes his finally payment and the house is his, he dies.
His brother who you never met before and who had been living with him (Unknown for how long) makes the Final payment after his brothers death and says: "When are you going to sign the deed over to me?"
Now I ask the members on TD. What would you do in this scenario?
How would the Law look at it?
I am just curious as to everyone's opinion on a situation like this. Only two ways that it can go.
You own a house that you picked up 20 years ago.
You work a deal with a guy on a lease purchase of the house. $500 per month for 15 years.
The guy pays his rent monthly, regularly, on time, never late for 15 years just as the contract states.
almost 15 years later and exactly 1 month before he makes his finally payment and the house is his, he dies.
His brother who you never met before and who had been living with him (Unknown for how long) makes the Final payment after his brothers death and says: "When are you going to sign the deed over to me?"
Now I ask the members on TD. What would you do in this scenario?
How would the Law look at it?
I am just curious as to everyone's opinion on a situation like this. Only two ways that it can go.
This post was edited on 3/26/23 at 1:15 pm
6
Posted on 3/26/23 at 1:15 pm to WWII Collector
Don’t be that guy
Posted on 3/26/23 at 1:15 pm to WWII Collector
Deed to his estate no?
Posted on 3/26/23 at 1:16 pm to WWII Collector
quote:Let probate settle it for you.
Now I ask the members on TD. What would you do in this scenario?
Posted on 3/26/23 at 1:25 pm to thelawnwranglers
quote:
Deed to his estate no?
The deed to the property that never got signed over to the guy that died one month before the contract with him was complete...
quote:
Don't be that guy
What is that suppossed to mean?
Propate.??.. What is there to probate? The guy never owned the property. He was just renting it on a lease purchase... The deed was never transferred.
Not trying to argue for either direction here. Just clarifying the situation... To me it is as simple as if you plan to honor the contract with the brother or not.
This post was edited on 3/26/23 at 1:40 pm
Posted on 3/26/23 at 1:37 pm to WWII Collector
quote:
What is that suppossed to mean?
I think he's saying a reasonable person would come to the conclusion that the now deceased had paid his debt as agreed upon and held up his part of the bargain, and it would be a poor look to try to pilfer that back on a pure technicality. I have no clue what the law would say but if I were guessing I think courts might agree.
If you were working with a large faceless business, then sure-- frick em. But it sounds like the two hypothetical people in this scenario were two human beings that made a mutually beneficial agreement, and so far at least one of them has done right by that deal (the dead one).
Posted on 3/26/23 at 1:41 pm to Thundercles
If he's the executor of the estate he should be capable of completing contracts on behalf of his brother.
Posted on 3/26/23 at 1:43 pm to Thundercles
quote:
I think he's saying a reasonable person would come to the conclusion that the now deceased had paid his debt as agreed upon and held up his part of the bargain, and it would be a poor look to try to pilfer that back on a pure technicality. I have no clue what the law would say but if I were guessing I think courts might agree.
If you were working with a large faceless business, then sure-- frick em. But it sounds like the two hypothetical people in this scenario were two human beings that made a mutually beneficial agreement, and so far at least one of them has done right by that deal (the dead one).
I agree here... 100%...
Posted on 3/26/23 at 1:44 pm to cable
quote:
If he's the executor of the estate he should be capable of completing contracts on behalf of his brother.
I believe that you have just answered all questions on the matter with that one... Thanks.'
Any further discussion (Not on here) moving forward, yours is the reply.. Thanks
Posted on 3/26/23 at 1:49 pm to WWII Collector
quote:
The deed to the property that never got signed over to the guy that died one month before the contract with him was complete...
Are you asking if you can legally keep property?
Deeds not my depth so will hang up and listen.
Posted on 3/26/23 at 1:54 pm to thelawnwranglers
quote:
Are you asking if you can legally keep property?
Just asking for others thoughts on the issue to the scenrio... But just to add a little...
What if a woman stepped up and said: I am his sister, sign the property over to me? So then what? WOuld you just sign the house over to her?
But I think that answer above is the correct one. The executor of the will should be able to complete the contracts...
This reminds me of my cousin. He bought a house with 10 acres... Gets married to a woman he knew for 6 months... a year later he is moved out trying to get a divorce... He stays with me. He dies, but yet the woman that he was trying to divorce after a year of marriage gets the house and the land.. While me, his cousin of 50 years, doesn't get a single say so in the matter. Process of divorce or not...
This post was edited on 3/26/23 at 2:03 pm
Posted on 3/26/23 at 1:58 pm to WWII Collector
quote:
Just asking for others thoughts on the issue to the scenrio... But just to add a little...
Makes sense I would be uncomfortable
Good luck
Posted on 3/26/23 at 2:01 pm to thelawnwranglers
quote:
Makes sense I would be uncomfortable
Good luck
Thanks... The matter has already been decided, but there have been some ongoing discussion between others about the scenario occasionally.
The way I see it, the deal was completed...
Posted on 3/26/23 at 2:15 pm to WWII Collector
quote:
Thanks... The matter has already been decided, but there have been some ongoing discussion between others about the scenario occasionally.
The way I see it, the deal was completed...
My dad did private mortgage to get rid of a rental property.
At the end he just wanted out his name.
Posted on 3/26/23 at 10:30 pm to WWII Collector
It’s pretty simple in my opinion, if the contract was paid out in full, the property goes to the estate of the man who passed away. Then whatever happens in the normal course of distribution of the estate happens.
In reality, that’s before everyone gets involved and fricks it all up though.
In reality, that’s before everyone gets involved and fricks it all up though.
Posted on 3/26/23 at 11:47 pm to WWII Collector
Ambiguity will not go in your favor. The man thought he was buying the house for himself and his family. If you put it in the liberal Louisiana judge’s hands, you won't like the outcome.
Posted on 3/27/23 at 6:49 am to WWII Collector
quote:
To me it is as simple as if you plan to honor the contract with the brother or not.
I would consider the deal done. Maybe the last month of rent is paid, maybe not but close enough to honor the deal with the deceased. I would finish the deal with the original intent and sign it over to the lease holder and let the estate/probate sort it out. No way would I just put the brother on the deed. Contact a good attorney because the timing throws a wrinkle into the deal and then walk away.
Posted on 3/27/23 at 6:55 am to WWII Collector
This isn't how lease purchases work in Georgia.
But every state is different and no responder to the OP has seen the language of the lease agreement.
What the OP describes sounds like a land contract. Not a lease agreement with option to buy.
Generally
1) lease agreements are not transferable
2) tenants (lease agreement) have no rights until the completion of the lease agreement. Someone else making a payment doesn't change that.
I know a lot of this is semantics. But the law works that way.
If you want to sell the house to the brother for 1 payment, then that is your choice to do so.
It wouldn't be an awful gesture with the original intent.
But every state is different and no responder to the OP has seen the language of the lease agreement.
What the OP describes sounds like a land contract. Not a lease agreement with option to buy.
Generally
1) lease agreements are not transferable
2) tenants (lease agreement) have no rights until the completion of the lease agreement. Someone else making a payment doesn't change that.
I know a lot of this is semantics. But the law works that way.
If you want to sell the house to the brother for 1 payment, then that is your choice to do so.
It wouldn't be an awful gesture with the original intent.
Posted on 3/27/23 at 8:56 pm to NBR_Exile
quote:
No way would I just put the brother on the deed.
Certainly not. I wouldn’t have an issue honoring the deal with the estate of the deceased. The brother who was living there, executor or not, is possibly/probably a beneficiary of the estate… but who knows how many others there may be? Is there a will? The OP hasn’t said and may not know. A wife? Other siblings? Children? We don’t know from what I’ve read so far. Signing the deed over to someone who wasn’t a party to the original contract would not be a wise move, IMO. The estate? Yes.
But mainly this:
quote:
Contact a good attorney
In my near 40 years of dealing with real estate and finance, I honestly can’t remember anything even close to this situation. Continue to deal fairly… and legally. Best of luck.
This post was edited on 3/27/23 at 8:58 pm
Posted on 3/27/23 at 9:38 pm to Jag_Warrior
In life I operate on a certain code of ethics. I would sign it over to the brother and get the good karma. Has worked well for me in life
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News