When the house for rent is for sale
After a house for sale and its buyer move in, the landlord has a choice: Keep the property as is, or sell it and take the profit.
That’s exactly what is happening to a home in South Bend, Indiana, that was sold by a couple who had moved out less than a year ago.
According to the Indiana Landlord and Tenant Board, the home, which had been on the market for two years, was sold in February.
At the time, the owner was planning to move into a new apartment building on the property.
The seller did not have a deed for the property and the sale price was $1.8 million.
A month after the sale, the seller asked for the tenant to sign a release of ownership.
The owner then agreed to sell the house and the tenant signed the release of title.
The couple then purchased the property for $1,000,000.
The land was not listed on the deed.
According a news release from the IndianaLandlord and Rent Board, a couple from South Bend called the Board to complain that the property was not being rented.
The Board decided to hold an investigation into the property’s future use.
The tenant and landlord filed a petition in a South Bend city court seeking a temporary restraining order to prevent the sale.
The Board held a hearing on the petition on March 1 and denied the petition.
The board later ruled that the lease agreement with the seller does not give the tenant any right to keep the property because the house is “a public housing property,” which is owned by the Indiana Housing Authority.
The landlord and tenant will be allowed to keep all of the house’s furnishings and the land, but the lease will not be renewed.
The lease will also not be reinstated for another year, the board said.
The Indiana Landlords and Tenants Board does not recommend anyone use a property for rental.