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Old 07-24-2001, 02:41 PM
myloc
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We are relocating to Nevada and exploring a lease option. I have the contract. It is written very simply. My question is: Do we legally own an interest in the house after closing. There is one clause in the agreement that reads "Title and real property interest shall remain in the name of a trustee until the above balance is PAID IN FULL" I am assuming that means when we close on the house. Would this be a correct assumption. The payments will go through a third party Finance Company.
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Old 07-24-2001, 09:50 PM
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Location: Catatonic State
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Hire an attorney. You do not own the property but only have a lease option interest.
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