Property Management
A Massachusetts residential tenant who is 'judgment-proof' creates what challenge for a landlord seeking to evict for non-payment?
AThe landlord cannot evict a judgment-proof tenant
BThe landlord can still evict and obtain a judgment, but collection of unpaid rent may be difficult or impossible✓ Correct
CA judgment-proof tenant is automatically given public housing priority
DThe landlord must write off the unpaid rent immediately
Explanation
A 'judgment-proof' person has no attachable assets or income from which a judgment can be collected. The landlord can still get an eviction order and money judgment, but collecting the unpaid rent may be practically impossible.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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