equity rights for renters - Posted by Antonio Huerta

Real Estate Investing Real Estate Law
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Posted by Rich-CA on April 30, 2007 at 24:14:17:

Why are the tenants making payment to the mortgage company and not to you?

You may owe them payments for the flooring cost, but they have to provide receipts. If they have boxes, you could price out materials or ask a flooring company what the cost would be. NEVER take their word on cost.

The cost or removing the wall and restoring the house to the original condition should be fully charged to the tenants. They have no right in any jurisdiction I am aware of to make changes to the structure without permission from the owner (which you are until the deed changes hands).

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equity rights for renters - Posted by Antonio Huerta

Posted by Antonio Huerta on April 29, 2007 at 17:45:27:

Renters have replaced flooring throughout the house on the promise they would purchase the property. They did not qualify. They are threatening to sue claiming they are owed equity. They have no proof of cost for flooring and built a wall without permits dividing the house in two. Is the landowner entitled to pay. the agreement was verbal only. The renter also is sending part of her rent to landowers mortgage comp. and part to owner.