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If lease with option to purchase been foreclosure on what happens?
Take1
Sorry, the question is totally unclear. Do you want to buy a foreclosed property that had been lease optioned -OR- is it your lease-optioned property that is in foreclosure? Are you the property owner or are you the person trying to buy it via lease-option? Please re-word the question and re-submit it.
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∙ 15y ago
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Can a landlord evict you if you signed a lease option to purchase?
That it is a "lease - with an option to purchase" makes no difference. You would be subject to eviction like any lease tennant, the same as if it didn't have an option. (Agreeably , you MAY still have the option to exercise your right to purchase rather than move, if you are able to perform as required by the Option agreement. It is also possible, and said in most contracts, that breeching the lease eliminates the Option).
Landlord says house in foreclosure I want to break lease and move Can I?
The foreclosure sale will function to terminate the lease. However, until the foreclosure sale takes place, the owner is still the owner, and the lease remains in effect.
What happens if you are leasing a house house that goes into foreclosure?
your lease was with the previous owner. It's gone unless the new owner will honor or best make a new lease if you want it. You may have 30 -60 days to relocate, They can't just move you out tomorrow.
What happens if a landlord loses a rental agreement and the tenants have broken the lease by not paying?
If the rent is not paid, you need to serve a notice to quit. It doesn't really matter whether you have the lease.
If you have signed a lease for next year and it has not started yet will you be held accountable if you break it to purchase a new home?
It really depends on your lease, though in general there is some sort of forfeiture. Consult your lease -- usually these things are spelled out. If not, ask an attorney about the laws in your particular state.
How Lease option tractor trailer is it good?
Most Lease/Purchase programmes are not....
Can a landlord evict you if you signed a lease option to purchase?
That it is a "lease - with an option to purchase" makes no difference. You would be subject to eviction like any lease tennant, the same as if it didn't have an option. (Agreeably , you MAY still have the option to exercise your right to purchase rather than move, if you are able to perform as required by the Option agreement. It is also possible, and said in most contracts, that breeching the lease eliminates the Option).
Are cars available with a lease to purchase option?
Most cars that are leased are now availiable with a lease to purchase option. At the end of the contract, you may purchase the car for an agreed amount. But don't forget to look at the depreciation the car has exprienced.
A lease to own house purchase also rent to own purchase or lease purchase is a lease combined with an option to purchase the property is that true?
A lease purchase is a method of buying a home by way of a rental or lease agreement that includes a clause (option) allowing the renter/lessee to purchase the home within a specific time frame. Sometimes called an option or a rent to own purchase, this home-buying method is similar in concept to renting to own a property, only the financing of the property is generally transferred from the seller to a lender once the renter/lessee exercises the option to purchase the property. Lease purchases are popular amongst homebuyers with poor credit, who cannot get financing, and are often used as a means to secure a home at a set price while repairing credit issues in preparation for bank financing. These instructions will guide you through the process of a lease purchase.
Landlord says house in foreclosure I want to break lease and move Can I?
The foreclosure sale will function to terminate the lease. However, until the foreclosure sale takes place, the owner is still the owner, and the lease remains in effect.
What are the release dates for The NJ Real Estate Show - 2010 Lease with an Option to Purchase 1-15?
The NJ Real Estate Show - 2010 Lease with an Option to Purchase 1-15 was released on: USA: 4 January 2011
Where can you purchase fill in the blank lease option forms?
You can purchase them from a website that sells lease option forms. Some places may have them in the physical store for you to buy. Stores could also have the ship to store option that lets you order them and go pick your forms up at your nearest store.
What is the difference between a lease purchase house and a mortgage?
When you take out a mortgage, you are purchasing the house right then and there. A lease purchase is when you begin by renting out the house, but are also given the option to purchase it within a given period of time.
Who do you contact for lease option forms?
You can get downloadable lease option forms online. You can just purchase and download them as needed. Or you can contact an attorney to draw one up for you. Also realtors have access to basic forms.
What happens when a leasehold mortgage is foreclosed?
The mortgagor's interest in the lease will be sold at a public foreclosure sale to the highest bidder. The winning bidder will then have the right to occupy the subject premises under the mortgagor's lease, for the remainder of the lease term. The ownership of the premises will not change. The foreclosure sale proceeds will be paid to the Sheriff, who will deduct his fees, with the balance of the sale price paid to the foreclosing mortgagee.
What is the best way to find a house with a lease to purchase option?
Often, you can ask the owner of a home you are interested in purchasing if a lease is an option. If the owner is interested in leasing the home, you should have a real estate professional draw up the contract.
What is another name for renter?
The legal synonym of "Rent to Own" is "Lease with Option to Purchase". It is a contract or agreement between a property owner and a lessor/buyer to lease a property for a certain period of time, after which the lessor/buyer has the option to purchase the property.
