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What if I'm renting to own the property Will I be able to qualify for first time owner loan?
Wiki User
∙ 14y ago
I'm sure you need to mortage the house or pay cash plus it's only a tax break.
Wiki User
∙ 14y ago
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What is the definition of landlord?
A property owner who is renting the property out to people to live in.
What is the law of renting land for 20 years and your right to own the land?
You have no right to ownership of real property by renting it for 20 years unless you had a written agreement with the owner that you were renting to own and you have met the conditions in the contract.You have no right to ownership of real property by renting it for 20 years unless you had a written agreement with the owner that you were renting to own and you have met the conditions in the contract.You have no right to ownership of real property by renting it for 20 years unless you had a written agreement with the owner that you were renting to own and you have met the conditions in the contract.You have no right to ownership of real property by renting it for 20 years unless you had a written agreement with the owner that you were renting to own and you have met the conditions in the contract.
Someone is renting your land after a few years do they have an appeal to your land?
Answer: By renting your land they are acknowledging that you are the owner. There would be no grounds for an adverse claim. Adverse possession arises when a person uses someone else's property without permission of the owner of the property. A landlord and tenant relationship clearly demonstrates that the property was used with the permission of the owner.
What happens if the property you are renting becomes repossessed?
It depends on what the new owner plans to do with your unit. You can ask the current owner if he knows.
Is the joint owner of the property you live in your landlord as they live elsewhere?
In the situation you describe, is the landlord the sole owner, and you are a renter or lessee? If the landlord is the sole owner of the property, and you are the lessee, they remain the landlord/sole owner despite where they may live. If you are renting the property from the landlord, you are only a lessee and not a joint owner.
Do you pay tax for your rented property?
If you're the one renting it... indirectly, in that the owner will charge rent sufficient to cover expenses, including the property tax. If you're the owner... yes, directly.
What are your rights as a renter in Georgia when the current property is in foreclosure?
If you are the Rent-ie (The person who is renting from the owner) or the Renter (The person who owns the property) Rentie- Nothing Renter- Its like a normal property.
If someone is renting a house that is NOT in their name and the owner of the house has a lien filed against them how does that affect the renter and their credit?
It would not affect your credit at all because you are merely the tenant and are renting the property. Since you do not own it, and the owner is the person that has the lien filed against them, it will not affect you or your credit.
Is the lessor the landlord or the tenant?
Tenant and lessee are the same thing, they are a person who rents property from a lessor who own property that he wants to lease.
What is meant by the phrase for rent by owner?
A rent by owner means that the owner of the building or home is renting out the property as opposed to a rental agency or rental broker. Typically rent by owner properties are smaller yet offer better communication and resolutions for the renter.
What is renters insurance and why it is needed?
Renters insurance is for a person who is renting the place where they live. It protects your property if something happens to that place, such as a fire, flood or theft. Without it, only the owner of the property is covered.
Can you get a home equity loan on your rental property?
If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.
