Rent transfer in purchase
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Rent transfer in purchase (by Morgan [MN]) Jun 28, 2016 12:03 PM
       Rent transfer in purchase (by WMH [NC]) Jun 28, 2016 12:11 PM
       Rent transfer in purchase (by NE [PA]) Jun 28, 2016 12:20 PM
       Rent transfer in purchase (by allin [VA]) Jun 28, 2016 1:47 PM
       Rent transfer in purchase (by Robert,Ontario,Can [ON]) Jun 28, 2016 1:52 PM
       Rent transfer in purchase (by Morgan [MN]) Jun 28, 2016 2:51 PM
       Rent transfer in purchase (by razorback_tim [AR]) Jun 28, 2016 3:03 PM
       Rent transfer in purchase (by Ray-N-Pa [PA]) Jun 28, 2016 4:50 PM
       Rent transfer in purchase (by RR [WA]) Jun 29, 2016 9:07 AM
       Rent transfer in purchase (by Vee [OH]) Jun 29, 2016 8:49 PM

Rent transfer in purchase (by Morgan [MN]) Posted on: Jun 28, 2016 12:03 PM
Message:

State Specific Question About: MINNESOTA (MN)

When pro-rating rent that goes to the buyer of a property, which party gets the closing day portion? The buyer or the seller? --173.160.xxx.xxx



Rent transfer in purchase (by WMH [NC]) Posted on: Jun 28, 2016 12:11 PM
Message:

Split the difference 50/50? --72.84.xxx.xx



Rent transfer in purchase (by NE [PA]) Posted on: Jun 28, 2016 12:20 PM
Message:

Give it to the buyer. He'll feel he won and you're already happy you're selling the place. --50.107.xxx.xx



Rent transfer in purchase (by allin [VA]) Posted on: Jun 28, 2016 1:47 PM
Message:

If the seller has already recieved the rent for the entire month then the rent for the portion of the month after the sale should go to the buyer. Also the security deposit should go to the buyer as well. --192.94.xx.xx



Rent transfer in purchase (by Robert,Ontario,Can [ON]) Posted on: Jun 28, 2016 1:52 PM
Message:

Work out the per diem rent by multiplying by 12 then dividing by 365 then multiply out the number of days if not on first of the month. --74.220.xxx.xx



Rent transfer in purchase (by Morgan [MN]) Posted on: Jun 28, 2016 2:51 PM
Message:

Thanks for the feedback everyone. Figuring out the per-diem isn't hard. It's determining who gets the day of closing. That one day where ownership changes. Not a whole lot of money in the grand scheme, but nevertheless it needs to get figured. --173.160.xxx.xxx



Rent transfer in purchase (by razorback_tim [AR]) Posted on: Jun 28, 2016 3:03 PM
Message:

I'm with NE - give it to the buyer. --166.137.xxx.xx



Rent transfer in purchase (by Ray-N-Pa [PA]) Posted on: Jun 28, 2016 4:50 PM
Message:

Remember you can't put the security deposit nor the rent refund on the HUD-1. --72.23.xxx.xxx



Rent transfer in purchase (by RR [WA]) Posted on: Jun 29, 2016 9:07 AM
Message:

Flip a coin or write it into the purchase contract.

The escrow company may have a standard way of handling this. Ask them.

Funds settlement (wire transfer, etc) happens at the end of business day, so I think the seller should get the rent for the day of closing.

--24.22.xxx.xx



Rent transfer in purchase (by Vee [OH]) Posted on: Jun 29, 2016 8:49 PM
Message:

The estoppel does this. --76.188.xxx.xxx



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