Legal Question in Real Estate Law in California
Verification Of Rent
I am trying to refinance my house the the lender requires a verification of rent from my previous landlord or 12 months cancelled checks. I do not have any cancelled checks so I am trying to get the V.O.R. from the landlord. They are not cooperative and they require for me to give them copies of 12 months cancelled checks (if I had it, I wouldn't need them). I would like to know if they are required by law to provide the lender with a VOR if I gave them a borrower's authorization letter.
2 Answers from Attorneys
Re: Verification Of Rent
Your bank should be able to provide you -- at some cost -- with photocopies of your checks, if they were written within the past 7 years.
Re: Verification Of Rent
I'm not sure I fully understand your question, but see if this is helpful:
Is this a commercial lease? Many commercial leases have covenants requiring the tenant to assist the owner in any sale or refinancing, including giving the lender or buyer an "estoppel certificate" or similar evidence of rent and other factors affecting income such as term of the lease. I doubt that such clauses are common in residential leases, but there could be something of this sort. If there is a law requiring either a tenant or a landlord to disclose rents to a non-party to a lease, I'm not aware of it.
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