Question about who can rent out a house.

[JustAGuy]

This might seem odd but I recently purchased a house with the intent that my parents would buy it back from me later on. My parents were going to use the house as rental property when they bought it. To make the house payments we are planning on renting out the house which is in my name. I have told my parents that they must buy the house from me with in six months or I would sell it. My parents are trying to rent the house out right now. My question is, whose name will have to be on the lease if we rent it out. My dad says his name can be on the lease and that my name doesn't have to be. However I would think the owner of the property would need to be the one on the lease. I want to make sure that the lease is no longer than 6 months so if they don't buy it from me then I can sell it. Can someone besides the person on the deed, like my dad, start a lease or will I need to sign it to make it legal. If my dad does sign a lease with someone can I legally kick them out later because I own the property?

 

[djdj]

Actually the question you should be asking is how old are your parents?

Are they sick, or aged? or smoke a lot, illness?

If yes, then DO NOT SELL the house bck to them!

WHY? because if they get real sick, cancer etc...they must have given the main asset their house away at least 3 to 5years before they can apply for medicaid!

Better talk to them about death, and sickness, and sheltering their assets before its too late.

 

[JustAGuy]

Parents age is not an issue

My parents age is not an issue in this case. They are both in their late 40's.