What to do when a family rented the home out and the renter has been paying but the family has not:
this is one of those stupid cycles that comes up again and again.
The basic point is we do want to keep the renter who has been paying in the house, but we must be careful to do it properly otherwise we can end up in legal trouble.
Solution: get the family who hasn't been paying to sign a termination agreement. this may take a cash for keys agreement. We should have the renter basically pay for the cash for keys as their downpayment and use that to pay off the family who was renting it out.
Go up to $5k to get the family to sign the termination agreement, only then do we give the new renter a land contract.
Also, make sure that we do not enter a new land contract until the termination papers have been signed.
NEVER DO AN AMENDMENT TO THE CURRENT LAN CONTRACT
that will not hold up and it will only cause legal issues in the future.
This is a time of the essence situation. because if it takes too long we end up with the renter as a squatter and that's a whole other situation.