This form is an Asset Purchase Agreement. The buyer agrees to purchase from the seller certain assets which are listed in the agreement. The form also provides a listing of certain assets which will be excluded from the sale. The form must be signed in the presence of a notary public.
Selling My Property With A Tenant In San Bernardino
Category:
State:
Multi-State
County:
San Bernardino
Control #:
US-00418
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Nothing prevents you from selling the home. You do NOT have to evict the tenants to list the home for sale. There may even be buyers that want to step into an investment and become a landlord (many a landlord has posted on reddit that they bought a home with an existing tenant).
By reinvesting the proceeds from your rental property sale into an Opportunity Fund, you can defer paying taxes on the gain. In some cases, if you hold the new investment for at least 10 years, you can avoid paying capital gains tax on any additional appreciation of the new property.
Answer: Usually at least 90 days. California law provides that the new owner of a foreclosed property must give “a tenant or subtenant in possession” of the property 90 days' notice before initiating eviction proceedings. CCP §1161b(a).
Under California law, residential tenants are protected from certain rent increases and may be protected from certain types of evictions. It is important to act quickly if your landlord serves you with an eviction notice, tells you to move out, increases your rent illegally, or if you know cannot afford your rent.
Do you find yourself daydreaming of cashing out and taking this golden opportunity to divest into some other form of investment without first having to evict your current tenants? Well, Osborne Homes has good news! 1) It is possible to legally sell your property with tenants in California.