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new l/l needs an assignment of rents

Posted by hawk on September 22, 1999 at 10:12:09:

In Reply to: Still looking for Ans. posted by Joanna on September 22, 1999 at 08:34:35:

you asked a simple question: is a new landlord entitled to any rent owed to the prior landlord? The answer is no, not unless the new landlord has an assignment of rents from the old landlord. an assignment of rents is essentially a piece of paper that says the new landlord is entitled to collect any rent that had been owed to the old landlord prior to the time the building had been sold. without such assignment a new landlord is not entitled to any unpaid rent before the building had been sold.

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