Legal Question in Real Estate Law in Ohio

Rental Deposit

We sold rental property on a Land Contract 6 years ago. The contract comes to an end this month and will be solely our of our names but the purchaser is selling it immediately to someone else not on the contract. Who is obligated to pay the tenant a deposit back, us that has not collected rent from them in 6 years or the person we have had the contract with? The purchaser wants us to go to a lawyers office with them to sign everything over to the people that is purchasing the land and mobile homes from them, which means nothing is going directly into the name of the person we sold this property to. Do I agree to this or what? Please HELP! Thank you.


Asked on 10/14/02, 11:27 am

2 Answers from Attorneys
Michael Buschbacher Michael Buschbacher Co. LPA

Re: Rental Deposit

Who holds the deposit? If you do you owe it. If the buyer holds it then they owe it.

You would be best advised to at least discuss this with your attorney BEFORE the closing.

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Answered on 10/14/02, 5:24 pm
Gregg Manes Gregg A. Manes, Esq.

Re: Rental Deposit

You are obligated to follow the contract. Further, there must be a contract to transfer the mobile home to the third party. It would be my suggestion to contact counsel to make sure that all of the options are explored.

Good Luck

Gregg Manes

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Answered on 10/29/02, 11:08 pm


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