Ask your tenant what he wants to get out of this arrangement - NOT the legalese - but:
What end result the tenant wants in plain English (it sounds like free money).
Why does the tenant think he should/must get it? - Note: answering my mum said it was due is not your problem.
Then decide what you should do.
Things not to do:
Engage with his mother - you ...
What does he mean exactly? How the heck does it
make sense for a landlord to "buy" a "lease" from his own tenant?
It sounds like they're hoping you might pay them to vacate/end their lease. It could make sense if you were considering selling the property. It could also make sense if they were about to stop paying rent because they think they cannot be ...
“Remote” job position plus “bitcoin” = scam. I’m sorry - your best bet at this point is to block them, delete any messages and move on. If you have already given them any of your personal information then you may need to watch your credit report, and definitely change any passwords if you have given those out.
Let's say that the lease has a year left to run at $100 per month, and he offers to vacate for $500.
Let's also say that you could lease it right now for a year at $200 per month if it were not obligated by the current lease.
In that case, it could make financial sense to take that offer.
There is no penalty for filing a tax form late in Canada if you do not owe any taxes.
The penalties are all in terms of percentages of the taxes you owe. So if he genuinely never earned more than the personal minimums then there is no downside to filing.
If he is going to claim RRSP contributions he is going to have to document his earnings for those years....
There is a process in rental property colloquially called "cash for keys" where the landlord pays a tenant to terminate a lease.
Usually it comes up as a kind-of win-win for both sides where the tenant has lost their income or the landlord wants them out with less fuss, so instead of a drawn out eviction process with no guarantee of getting paid back rent,...
A lease is generally a right to occupy some premises for a fixed period. If the current tenant wants to move out, then they can sell the lease on to someone else, who then has the right to occupy for the remainder of the lease.
Provided that the rental being paid under the lease is less than the price of simply renting the equivalent building, the lease is ...
If there are no financial advantages to pre-paying your insurance, then your hypothesis is correct - it's probably in your best interest to pay the loan down with your cash now, and pay the insurance monthly.
But be sure to check on your insurance policy about payment terms - every policy I've ever had (granted, I'm in the US) has had a significant discount ...