My question involves real estate located in the State of: Michigan
Closed on selling my home the other day. A large piece of property needs to be moved by a specialty moving company. It's not a baby grand piano, but think of it as that. It's about the same size, weight, and cost. Just found out the specialty moving company I hired a month ago for this may be falling through. Not sure there is enough time to hire another specialty company in time. The piece of property is technically owned by a corporation that I own. The house was owned by me personally. The corporation had no part in signing any of the home sale documents. (Granted, if it had, it would be me signing on behalf of the corporation.)
Contract states:
* I am to remove all personal property from the building and vacate within 5 days after closing.
* I am to pay buyer an occupancy charge of $x per day, from the day after closing through the date the property is vacated.
* I am to pay buyer for costs and expenses incurred in recovering possession.
* It is for the building and land including all (long list of common home fixtures, and the appliances included.) Does NOT say all items on premises. (True on both purchase agreement and bill of sale.)
Q1 - What do I do if I can't have the large piece of property off the premises by the 5th day? (It's expensive, and I need to keep the large piece of property.)
Q2 - Should I / what happens if I do not turn over possession on the 5th day? If I keep the keys, sleep, and eat there, for an extra 2 days or so? Does property remaining become owned by the buyer? Can the buyer have the sheriff remove us, or would he have to get a court order first?
Q3 - Should I / what happens if I say I will not hand over the keys and vacate, unless another agreement is signed which states: (a) property X remains on the premises, but remains the property of seller; (b) seller may have property X picked up within Y days; and (c) seller holds buyer harmless for loss or damage of the property. Maybe also (d) a storage fee per day. (I don't love c, but figure he wouldn't sign it without it.)
Q4 - What happens if I just vacate and turn over the keys, without another signed agreement? (Maybe my only option if refusing to vacate is a horrible idea and he won't sign anything.)
I'm sort of hoping staying extra days puts us in a position of a tenant holding over, giving us an extra day or two to get our property out. Really hoping he can't (legally) come in with the sheriff, drag us out, change the locks, and say thanks for the free property.
Obviously the best situation is to talk this through with the buyer. Just want to know my legal position first.
Closed on selling my home the other day. A large piece of property needs to be moved by a specialty moving company. It's not a baby grand piano, but think of it as that. It's about the same size, weight, and cost. Just found out the specialty moving company I hired a month ago for this may be falling through. Not sure there is enough time to hire another specialty company in time. The piece of property is technically owned by a corporation that I own. The house was owned by me personally. The corporation had no part in signing any of the home sale documents. (Granted, if it had, it would be me signing on behalf of the corporation.)
Contract states:
* I am to remove all personal property from the building and vacate within 5 days after closing.
* I am to pay buyer an occupancy charge of $x per day, from the day after closing through the date the property is vacated.
* I am to pay buyer for costs and expenses incurred in recovering possession.
* It is for the building and land including all (long list of common home fixtures, and the appliances included.) Does NOT say all items on premises. (True on both purchase agreement and bill of sale.)
Q1 - What do I do if I can't have the large piece of property off the premises by the 5th day? (It's expensive, and I need to keep the large piece of property.)
Q2 - Should I / what happens if I do not turn over possession on the 5th day? If I keep the keys, sleep, and eat there, for an extra 2 days or so? Does property remaining become owned by the buyer? Can the buyer have the sheriff remove us, or would he have to get a court order first?
Q3 - Should I / what happens if I say I will not hand over the keys and vacate, unless another agreement is signed which states: (a) property X remains on the premises, but remains the property of seller; (b) seller may have property X picked up within Y days; and (c) seller holds buyer harmless for loss or damage of the property. Maybe also (d) a storage fee per day. (I don't love c, but figure he wouldn't sign it without it.)
Q4 - What happens if I just vacate and turn over the keys, without another signed agreement? (Maybe my only option if refusing to vacate is a horrible idea and he won't sign anything.)
I'm sort of hoping staying extra days puts us in a position of a tenant holding over, giving us an extra day or two to get our property out. Really hoping he can't (legally) come in with the sheriff, drag us out, change the locks, and say thanks for the free property.
Obviously the best situation is to talk this through with the buyer. Just want to know my legal position first.
Closings and Escrow: May Not Be Able to Remove Large Piece of Property by Required Date to Vacate
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