No Money Down Real Estate Investing Course
Learn How To Buy Income Properties Without Risk, Good
Credit, Money Or Tenants!

Click here for more information
 
Welcome, Unregistered.
User Name
Password
Forum Links
Site Navigation
Real Estate Resources
Go Back   Real Estate Investing > Real Estate Investment > Real Estate Law
Reply
   
 
Thread Tools Search this Thread Display Modes
  #1  
Old 10-03-2005, 09:32 PM
reguru
Guest
 
Posts: n/a
Cool Good Leases, Free House... KEEP THAT LEASE LEGAL!

The longer you are a landlord the more restrictive you attempt to make your lease. That's just good business.... but don't include any provisions in your lease that are not legal.

It would be illegal to include a provision that states the resident agrees not to include his or her lease (the lease on your property) in their bankruptcy filing... should their bankruptcy become necessary.

Bankruptcy laws are Federal.. lease law is state law. Anyone can file for bankruptcy and invoke all lprotections afforded to them by the U.S. Bankruptcy Code... including not making lease payments... at least temporarly.

It would be illegal for your lease to require that residents be responsible for injuries he or she sustain during the lease term. The law can legally hold
landlords liable for damages and injuries caused due to negligence. A landlord cannot contract that away.

The same would apply to a requirement that the tenant be responsible for all necessary repairs. In every state the law mandates that landlords perform certain repairs to mantain the property and keep it habitable.

Requiring a renter to pay for all fo the landlord's legal fees and costs regardless of a court case out come would also be a lease no-no.

Most good leases have stood the test of time and will help you avoid legal problems. Just don't ask tenants to sign it until you have read and completely understan every line.
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump



All times are GMT -8. The time now is 09:42 AM.


Powered by: vBulletin Version 3.0.8
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 2.4.0
Copyright 2001 - 2006, Buy Income Properties, Inc. All Rights Reserved. Privacy Policy in Observance.