Does the buyer get keys if the seller does a temporary lease to stay past closing?

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A man holds a set of silver keys in one hand and a small model house in the other.

05/21/2015 | Author: Editorial Staff

My seller is closing next week, but will stay in the property for 30 days after closing under a temporary lease. Does the buyer still get a set of keys at closing?

Yes. The Seller’s Temporary Residential Lease (TAR 1910, TREC 15-5) states that a tenant will provide the landlord door keys and access codes so he or she may enter the property at reasonable times to inspect it during the term of the lease or to otherwise access it as allowed by the lease. However, the buyer cannot occupy the property until after the termination date stated in the seller’s lease, unless it’s terminated earlier by reason of other provisions.

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Categories: Legal
Tags: legal faq, selling, leasing


Comments

Shaun on 05/23/2015

The agent should advise his/her clients that’s a legal binding contract and they should respect the new owners of the property. I had a bad experience once.
I am closing one now and asked the listing agent to get his clients to sign:  The Sellers Temp Lease Back, a lease, move -in condition form and a pet agreement.
Sorry,  i have to work for my clients the I know how.

Rick DeVoss on 05/22/2015

Common sense is all that is needed in this scenario.  Remind the buyer/Landlord what they would expect if the shoe were on the other foot.  There is No reason that I can think of for the buyer/Landlord to ever go over to the property after closing, just as they wouldn’t have gone over before closing.  If you think there could be ‘trouble’ here, then maybe the Buyer’s Agent should hold on to the keys.

It is hard to believe that this question even came up.  ~If you are asking someone to sign a legally-binding form (part of a contract), then you as the Agent should have read the whole thing!  There is no excuse for agents not to read the contracts that they are asking their clients to sign.  —-And this is why I don’t like ‘docusign’ because your client may not read it before he signs it, and you won’t know that if you are not sitting face-to-face with him when you explain it to him or her.  (The implication here being that you Didn’t explain it to him if you sent it by docusign.)

The main reason that you will experience problems down the road in your transaction, is that neither the agent nor the buyer read what was signed.
—If you don’t read the forms, you can’t explain the forms.  And if you don’t explain the forms to the person who is signing them, you are asking for trouble later.

Bob Dillon on 05/21/2015

Luke stated it perfectly!

Glenn on 05/21/2015

That is of course the right answer. But since the buyer/landlord in this situation will probably be someone that has no experience as a landlord- I think it would also be best for the buyers agent to make the buyer/landlord aware or remind them of privacy that the seller/tenant should have- that they should not go over without proper notice and maybe not quite as often as the urge hits them, and they of course should always ring the doorbell before using the key. I have seen ugly situations that did not need to be ugly.

Luke on 05/21/2015

Our greatest failing as agents is not reading the forms we ask our clients to sign so that we know exactly what it says and means…. Eliminates a lot of unnecessary questions and makes you look really good to your clients!


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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

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