 | 
09-09-2004, 12:52 PM
| | Member | | Join Date: Jun 2003
Posts: 61
| | | Rent to Own
What is the name of your state?NY
Anyone know where I can find a sample or a form for a rent to own agreement online? |
09-09-2004, 12:55 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote: |
Originally Posted by moe15 What is the name of your state?NY
Anyone know where I can find a sample or a form for a rent to own agreement online? | **A: be careful since you should use a state specific form. One form for Alabama may be be applicable in NY. It is better to have an attorney draft one. |
09-09-2004, 01:03 PM
| | Member | | Join Date: Jun 2003
Posts: 61
| | | I know
I would rather my mother use one too!
She is not going to use one, and she was just going to draft one up herself, but I know her...and that scares me.
It is between family, and basically my great grandmother is 100 years old. They cannot sell the house now because she is still alive, and there is too much work needed on it, including foundation leveling.
What they want to do is pay $18000.00 for the home by paying $300/month while fixing it at the same time. They have no other fees to pay the owner, so it is not a complicated agreement.
I just have never seen a rent to own agreement and would like to make sure she is at least covering all of her basis.
Thanks |
09-09-2004, 01:27 PM
| | Member | | Join Date: Aug 2004
Posts: 853
| | | Here are some sample contracts.
[url]http://www.honestmortgage.net/Free_Real_Estate_Forms.htm#leaseoptions[/url]
Scroll down the page and look under "Lease Options" |
09-09-2004, 01:31 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | | That's a start. |
09-09-2004, 04:04 PM
| | Member | | Join Date: Jun 2003
Posts: 61
| | | Re
BINDING EFFECT: This Option and the agreements contained herein shall be binding upon inure to the benefit of heirs, executors, administrators, successors and assigns of the respective parties.
Q: Does that mean that when my great grandmother dies, that the family, executer has to abide by this agreement? |
09-10-2004, 10:09 AM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote: |
Originally Posted by moe15 BINDING EFFECT: This Option and the agreements contained herein shall be binding upon inure to the benefit of heirs, executors, administrators, successors and assigns of the respective parties.
Q: Does that mean that when my great grandmother dies, that the family, executer has to abide by this agreement? |
**A: no, it really means that if either party dies, the lease option is still enforceable among the heirs etc. | |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | | | Thread Tools | | | | Display Modes | Rate This Thread |  Linear Mode | | 
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off | | | |
All times are GMT -5. The time now is 09:58 PM.
