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Cash for keys ( occupants options)

Discussion in 'Foreclosure, Repossession, Auctions, Short Sales' started by mixy, Dec 12, 2013.

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  1. mixy

    mixy Law Topic Starter New Member

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    I am living in a house that (was) owned by my mother. When my children and I moved in almost 2 yrs ago my mother refused to draw up a lease even though I was paying her $625 in rent to live here. I disnt think much of it cause she is my mother and I wanted out of the house I was in at the time. Well tje house was foreclosed on and was sold at auction a week ago. Today I received a Notice to Vacate from an attorney's office by certified mail. The notice states that if I am the Grantor of the Deed of Trust I have 3 days to vacate. Or if I am a bona fide tenant I have 90 days to vacate. Well, considering that I have no written lease I'm worried that I have no rights in this matter. So I am neither the Grantor of the Deed of Trust or a bona fide tenant. I was doing some reading online and came across the subject of Cash for Keys. I read where banks or new owners will make the cash for keys offer but not the other way around. Can an occupant make this offer? And is it reasonable or unreasonable for me to call this attorney and make this offer if I have no lease?
     
  2. army judge

    army judge Super Moderator

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    You have a lease.

    It is a lease that is a creature of state statute.

    Its called a month to month tenancy.

    Read this, learn what you have:

    http://www.shsu.edu/~klett/Statute of Frauds Ch 15.htm

    http://www.kentlaw.edu/faculty/rwarner/classes/contracts/statute_of_frauds_notes.htm

    This came about because of the statute of frauds, and early English common law.

    So, you have a lease provided for you by Texas law.

    Texas law says about month to month tenancies:

    http://www.nolo.com/legal-encyclopedia/texas-notice-requirements-terminate-month-month-tenancy.html

    http://texastenant.org/lease.html

    http://www.houstontenants.org/32307-TenantRightsPamphle.pdf

    So, educate yourself, bottom line, you can try to negotiate cash for keys.

    But, you're getting 90 days to vacate.

    The 90 days allows you to save $600 a month, and walk away with $1,800 to apply to a new lease.

    I doubt the new owner is motivated to give you MORE money to leave sooner, rather than later.

    They just want you out.

    But, you certainly can try and make a counter-offer.

    No harm in asking.....

    You do have rights, again, educate yourself.
     
  3. mixy

    mixy Law Topic Starter New Member

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    Thank you so much army judge. Your links have been very helpful.
     

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