This form is a sample letter in Word format covering the subject matter of the title of the form.
Sample Letter Of Offer To Sell Property With Tenants In Contra Costa
Category:
State:
Multi-State
County:
Contra Costa
Control #:
US-0028LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Yes, you can legally sell your rental property in California even if it is currently occupied by tenants. You must adhere to specific procedures, such as providing adequate notice as required by California law, to ensure the process complies with tenant rights.
The letter to notify a tenant of the sale of the property should be short and concise and include information such as: Identifying information including the date, owner name, tenant name, and property address. Notice that property is being sold and that the lease and deposit will transfer to the new owner.
I hope this letter finds you well. I am writing to inform you that the property you are currently renting at Property Address is being put up for sale. This means there will be some changes in the near future, but I want to assure you that your rights as a tenant will be respected throughout this process.
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).
In California, a “120-day notice to sell” is a legal requirement for landlords intending to sell their property, ensuring tenants have ample time to seek alternative housing.
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.
The lease must be honored. Tenants have a right to stay in place until their lease ends. So, even if the house is sold, the lease can not change. If your tenants have a month-to-month lease, in California, they are entitled to a 60-day notice before the lease is cancelled.
Dear Recipient's Name, I am writing to formally inform the society about a new tenant moving into apartment Apartment Number located at Full Address. The new tenant, Full Name of the Tenant, is scheduled to move in on Move-in Date.
