What Happens When a Tenant Passes Away In Your Rental Property? – Episode #425
I have another reader question for you today, and it’s a good one, and it has to do with what happens when someone passes away in your rental property.
The exact question was:
When a tenant passes away in your rental property, and they have a month-to-month lease with no one else on the lease, how long do you give the family to clean out the house? He was there for 15 years and had a lot of stuff. She also goes on to say they inherited the tenant when they bought the house. What a great question.
So, let’s break this down into bite-sized pieces because there are actually a lot of pieces, and some of them are legal issues to address.
[00:01 – 04:19] Opening Segment
- How to navigate probate laws when a tenant passes away in your rental property
- Notify the authorities and get written documentation of the death
- Work with the executor, personal representative, probate attorney, or court to ensure legal compliance
[04:20 – 08:33] Understanding the Process of Handling a Tenant's Estate After Death
- Secure the property as soon as you know that someone has passed away
- Do not allow anyone into the property until you have paperwork that declares the decision maker
- Lease extends to the expiration date, even if the tenant passes away
[08:34 – 11:09] Closing Segment
- Long-term lease requires payment until expiration by the estate
- Any unused portion must be returned to the executor
Resources Mentioned:
- Blog: Louisville Gal's Real Estate Blog
- Podcast: Let's Talk Real Estate Investing Podcast
- FREEBIE: Probate Investing Starter Kit
- Probate Course: Probate Investing Simplified Course
Key Quote:
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