Start your membership account today...  Access to credit reports, 100's of rental specific forms, agreements, letters, checklists, how-to articles, guides, expert advice and much more!  Even a FREE, 3-day trial!

Not a Member?
Get a Free Trial Membership

  Get FREE Stuff! Run Credit Report Rental Forms  Shop & Buy Forms!  Advertise Your Rental Customer Care

Welcome to Landlord.com's Discussion Forum
Sign up Latest Topics
 
 
 


Reply
  Author   Comment  
knight1103

Registered:
Posts: 1
Reply with quote  #1 
Hello All,
My name is Michelle and I'm from Mi. Here's the back gound info....I just purchased 14 days ago a duplex from my brother in law which is tenant occupied. Prior to close, I was supposed to recieve info about the tenants ie copies of leases, info on utilities, past lawsuits, transfer of security deposit, ect. He moved to Fl before he sold the duplex and put it up as a lein on a new business he bought. This caused my closing date to be switched three times in 3 weeks. Closing was a complete nightmare. Anyway, when closing finally happened, he faxed all closing paperwork from Fl minus the info on tenants and my transfer of security deposit. I called him during closing and he assured me that the info was in the mail. No info. Since then I have email twice to get it. He had informed me that because he took both tenants to court a yr ago I could go to the courthouse and buy the copies of the leases. It would be quicker and easier that way. Today, I went and bought my copies and found out the amount of the security deposits for each tenant. Here is the problem...In mi we have strict laws about how to handle the security deposits. I need to open a bank account and put the tenants security deposits in there. It's not my money and it's not my brother in laws money either.however I am afraid that in doing so, my brother in law will be off the hook for transfering the security deposit to me. To my knowledge, he has not sent them itemized lists of damages and he has not informed them that we own the duplex now. Do I email him letting him know that I need their money transfered to me or do I just open a bank account and then take him to small claims court. The total of the security deposits will be  1100.00
OHlandlord

Registered:
Posts: 3,809
Reply with quote  #2 

Nice BIL, huh?  (Sorry, no snide comments on one's in-laws!  )  I wouldn't take my money to open those accounts.  While the law requires you to put their deposit in seperate accounts, you don't have that money yet.  For all you know, he may have that money in seperate accounts in the tenants' names in a MI bank.  (But I kind of doubt it.)  I would see an attorney about drafting him a letter insisting that he turn those deposits over to you now.  If he fails to do this in a short time, I would file against him in small claims court.  In the meantime, if a tenant asks about their SD, I'd just tell them that it has not been transferred to you yet from the previous owner and that you are pursuing it.  Hopefully, neither tenant will want to move before you receive them.  This should have been taken care of before closing.  This was part of your closing requirements, wasn't it?  Then he isn't fulfiling his duty as seller.

Previous Topic | Next Topic
Print
Reply

Quick Navigation:

Easily create a Forum Website with Website Toolbox.

Apartment Finders > > Member Log-in > Free Trial Offer > Free E-newsletter > Customer Service > Get Free Stuff! > Run Credit Report > Rental Forms > Vacancy Center > Do-it-yourself > Evicting Your Tenant > Foreclosure Resources > Landlord Discussion Board > Income Tax Resources > Information Center > Join Landlord.com > Landlord Law > Library > Multi-family > Professional Advice > Rental & Property Mgmt > Rent Collection > Repair & Maintenance > Security Deposit > Software Center > Tenant Screening > Vacation Homes > What's New > Rental Agreements > Free Leases > Inside Our E-store > > Security Deposits > > Landlord Daily News > Rental Agreements >
LandscapingSanJose.net Resources: Cleaner Sunshine coast