michaeltrish
Junior Member
What is the name of your state?--------------------------------------------------------------------------------
What is the name of your state?Arizona
My husband purchased a rental property before we were married. He signed a purchase with option agreement in July of 2003 and the tenant is exercising his right to buy. I have looked over the contract and there are a few omissions. The lessee's name is not written on the contract, only a signature. The property is not legally described, only the street address is stated. The contract was not notorized and therefore not recorded at the county recorder's office. We are in desperate need of advice since the property has appreciated over 90k in the past 9 months. The purchase price was set at 140k in the contract with 3k (option price) going towards the purchase price, yet it is now appraised at 230k. What can we do legally to stop this option from happening? Do we have any outs? Thanks, Trish
What is the name of your state?Arizona
My husband purchased a rental property before we were married. He signed a purchase with option agreement in July of 2003 and the tenant is exercising his right to buy. I have looked over the contract and there are a few omissions. The lessee's name is not written on the contract, only a signature. The property is not legally described, only the street address is stated. The contract was not notorized and therefore not recorded at the county recorder's office. We are in desperate need of advice since the property has appreciated over 90k in the past 9 months. The purchase price was set at 140k in the contract with 3k (option price) going towards the purchase price, yet it is now appraised at 230k. What can we do legally to stop this option from happening? Do we have any outs? Thanks, Trish