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Pretty sure this is NOT legit...lawyers?
So Ryan and I have the potential to move to another town. We'll know more on Friday.
FIL owns a house in this town. He had renters who were renting to buy (contract for deed). They agreed that they would pay him $10,000 +the mortgage and do work on the house (it was in complete disrepair). They said they would pay for the mortgage until the renters credit was able to get a loan.
The renter never paid the 10k, is months behind on his "rent" so FIL has had to cover it. Renter has done some repairs to the house.
FILhas said to us:
"Renter has broken his contract, so I'll just kick him out and you guys can live there until you sell your house, then you can either buy it for what's left on the mortgage, or move on after 2 years." This would be awesome because, while the house is in horrible condition, it's worth WAY more than what the mortgage would be because of the area-we could easily make 100k if we fixed it up and sold it.
I understand that the "renter" broke the contract, and under normal circumstances he would just be evicted. Here's the thing I'm nervous about
1.) The renters changed the locks on the doors-FIL no longer has a key to the house.
2.) Legally, what are the ramifications of evicting a contract for deed? Would this fall under the same tenant landlord laws?
3.) They have done repairs to the house supposedly, would they technically be able to come after Ryan's dad to reimburse since they are being kicked out?
I guess I just have a problem with Ryan's dad saying "Get the F out" even though his lawyer says that since the renter broke the contract FIL is in the clear. Wouldn't FIL have to give him 3 days to pay the 10k and the rest of the back rent before he gets evicted?
I guess I wish that FIL said once renter f-ed up that the contract was done. I feel bad because if we get these jobs the ball would be rolling really quickly and we would probably be down there in 2-3 weeks from Friday.
So is this legit? Is FIL right and I should just not worry about it?
Re: Pretty sure this is NOT legit...lawyers?
Again, not a lawyer, but former landlord...
Is there anything in the contract about having to give them x-days notice? What about changing the locks? I know in ours it was a breech of contract to change locks/pass code to the garage.
My only suggestion, get everything in writing with the tenant's signature. Evicting someone is NOT easy...
See I know if they were just a tenant, it would be fine, but because it was a contract for deed, I'm unsure on how eviction would work. Because TECHNICALLY (here is the Montana law)
TITLE 28. CONTRACTS AND OTHER OBLIGATIONS
CHAPTER 2. CONTRACTS
Part 17. Extinction of Contracts ? Rescission
28-2-1711. When party may rescind.
A party to a contract may rescind the same in the following cases only: