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    VeteranJock's Avatar
    VeteranJock Posts: 3, Reputation: 1
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    #1

    Nov 18, 2006, 09:09 PM
    I am selling a rental home with tenants
    I am selling a rental home and the new owners are two of the three present tenants. They want the third one out when I sell it to the other two. What do I need to do as the present owner in a notification that I am selling the property? I am in the state of KY. Thank you!
    jgrammes's Avatar
    jgrammes Posts: 7, Reputation: 1
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    #2

    Nov 18, 2006, 10:01 PM
    Quote Originally Posted by VeteranJock
    I am selling a rental home and the new owners are two of the three present tenants. They want the third one out when I sell it to the other two. What do I need to do as the present owner in a notification that I am selling the property? I am in the state of KY. Thank you!
    If you enter into a contract with 2 of the tenants, those two tenants must understand they are buying a "tenant occupied" property. Once you have settlement, it would be up to them to evict the 3rd.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692
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    #3

    Nov 18, 2006, 11:32 PM
    You do not have to notify any tenant you are trying to sell the home until it is sold.

    The new owners will be obligated by any rental or lease agreement you are in with them.

    If you have a longer term lease ( one year) new owners must accept that lease. You have to notify buyers of any lease or rental agreements.

    If the rental is verbal or monthly the new owners would have to give a month notice to have the other tenant move. ( and may have to evict if they don't move.)

    So you did not say what rental or lease agreement they have

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