I went back to my book.
And I found out that I was right.
:)
After a landlord dies. There's a hierarchy as to who gets to inherit the property.
The first person who does, is the Spouse of the Landlord.
If no spouse exists, the second in line to inherit the property is the Children of the Landlord.
If NO Spouse, AND NO children of the Landlord exists, The third in line to inherit the property is ANY OTHER relative of the Landlord IF they want it.
If none exists, or none wants to make a claim…
There's two different people who are FOURTH in line to inherit the property.
A. If the house was not fully paid off, at the time of the Landlord's death, the BANK gets the house.
And the bank must notify the tenant that there's an option to pick up the mortgage and receive the deed to the property.
Or B. IF the house IS paid off at the time of the Landlords death…
The house goes to the SHERIFF'S OFFICE.
If the Sheriff gets the house…
The Sheriff must notify the tenant of three options.
Option A Buy the house now.
Option B. Rent the house from the Sheriff's Office.
Option C. Move out of the house and the Sheriffs Department will sell the house.
:)
Added (1). At no Point does the tenant inherit the property… The Tenant can only buy the property, continue to rent it… Or move.
Read more: Hierarchy of home ownership after a landlord's death?
