"Cash for Keys" for homeowners

Produced by Massachusetts Law Reform Institute
Created July 2013






The new owner may offer you money if you agree to move out. If you move out before they take you to court, you will save them time and money. This is called Cash for Keys

If you agree to Cash for Keys you will probably have to sign a form. Read the form very carefully before you sign it. You may give up your legal rights. The form often says you promise not to not sue the bank for anything they may have done wrong.

You also have to leave the property in broom-swept condition.

Note

It is up to the new owner to decide if they are going to offer you Cash for Keys. You do not have a right to any money just because you move out before the new owner gets a court judgment.

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