Legal Question in Real Estate Law in California
I'm purchasing a duplex from a seller through a short sale. The current owners isn't turning over the tenants deposits. What steps should I take to make sure that I'm not legally responible for deposits. Current seller knew the deal was closing shortly and she mislead the new tenants and rented the units out. Both units have been rented out within the last three months and we started negoitiation back in December 2009 for me to purchase this duplex through a short sale .
2 Answers from Attorneys
sort this out with Escrow before it closes, or you'll end up in litigation.
The seller is obligated by law to either return the deposits to the tenants or deliver them to you. Mr. Nelson is right. Require that this be dealt with in escrow, either by payment out of escrow to the tenants or to you. Technically if the seller does not pay you, you are entitled to tell the tenants that they must go after the seller, but you really do not want to be in that situation.
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