A quick question. I am looking at purchasing a apartment building. One unit is occupied by the father of the current owner. They had told me that it was for $450 in rent. Now that I asked for the lease agreements, they told me that he is living there for free with no lease agreement (paper). If I buy, do I just throw him out or make him sign a lease? I want to avoid a sticky issue.
Thanks
Darin
I vote Offer Him A Lease, and see what happens. New owner, new rules. 
Make it a condition of your offer to purchase that he gets contracted (on your terms) BEFORE closing.
This way the current owners have to do the work, not you.
Also, if there is no contract once you purchase the property, I’m pretty sure there would be some ugly legal issues. If he refuses to sign a lease and pay, you may have trouble legally evicting him because he is living there without a lease contract.
I’ve heard of people renting to relatives/friends without a contract and once they stop paying, they try to evict them, but can’t! The law actually protects the dead-beat tenant!
Not a situation I would want to be in. Get it taken care of before you sign and save yourself the hassle.
Consultant a local real estate attorney who is familiar with the land lord/tenant code. He/she will be able to advise you what options you have or don’t in this scenario. In many states there are laws to “protect” the tenant against the big bad landlord. Some even make you evict squatters!!! Check with a local real estate attorney who knows the code, save yourself a ton of money and headaches. IMHO…