Tags
Attorney, Estate Attorney, Estate Rental Property, Lease, Mortgage, Notice to Quit, Realtor, Rental Property, Tenancy at Will, Tenants, Thirty Day Notice
When the tenants couldn’t get financing, the attorney and realtor worked on relocating the tenants. In the article Selling the Estate Rental Property: The Tenants Became Proactive, the tenants effort to obtain financing failed. While it became known to the realtor that the tenants were having trouble getting a mortgage, I didn’t want to inform the attorney until it was certain that the tenants ended their effort to buy the house. Therefore, once the tenants stopped pursuing a mortgage, I informed the attorney about the tenant’s decision. Since the task of relocating the tenants became a reality, the attorney and the realtor performed the following tasks:
- The attorney drafted the Notice to Quit. The Notice to Quit is a notice given by the landlord – in this situation, the executor – to a tenant to vacate the property by a certain date. The notice, required by the state of Massachusetts, ends the tenancy on the date set in the notice. Since the tenant’s initial lease expired years ago, the tenants occupied the property under a tenancy at will agreement. Therefore, they received a thirty-day notice.
- The realtor, having been in contact with the tenants from the beginning of the process, knew the tenants were having trouble getting a mortgage. As a result, the realtor compiled a list of rental properties to show the tenants. So, when the tenants concluded their efforts, the realtor started showing rental properties to the tenants.