Legal Question in Real Estate Law in California
When can I legally stop paying rent to my current landlord. My current landlord is selling the condo that I live in via shortsale. The new owner is an investor that would like me to stay as the renter of the condo. At what point in the sale of this property do I stop paying rent to the original owner?
3 Answers from Attorneys
At close of escrow you no longer owe rent to the seller. If you have a written lease, your obligations and rights under it continue as to the buyer in most cases. Make sure the seller either refunds your security deposit or transfers it to the buyer in escrow.
When escrow closes and the deed is delivered. This is usually evidenced by the recording date on the deed. If he wants you to stay as a rentor, I'm sure this can be worked out with him on a friendly basis.
You don't stop. You pay the owner, and then the new owner when notified to do so.
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