Gail, they are in default of so many things. I will list a few. They are denying landlord access to the house, everytime he comes to the property they call the police. Landlord was to live there for one year. In return tenant got a great price reduction on the home. They had been friends...
What happens when you sign a lease with the option to buy and the house because of the economy will no longer appraise for the agreed upon amount? The tenant is now in default of the terms of the lease which now gives him the option to buy or vacate in 30 days. The tenant is only 6 months into...
You don't have any kind of recourse as no lease was signed. Next time be sure to have the person sign the lease at time of agreement and collect a deposit.
The landlord and property is one in the same. (not me, a friend) Landlord was to stay in basement for free. Tenant was to live upstairs. Tenant received a price that was about 20,000 lower than market value for the home because of this agreement. This agreement was tenant's idea to be able...
There was no down payment money given as landlord also owner of property was to live there and store belongings for one year. This was the agreement instead of having a down payment and market value for the house. I understand this is a big mess. As it goes it was supposed to be a friendly...
Thank you so much for your help. That was what I was thinking also but, was afraid of getting sued for anything that the tenant might have remodeled by now. Thanks again!
Please help! We entered into a lease with option to buy in June of 2009. The agreement as strange as it may have been was that the landlord would continue residing at the property for one year and in exchange the price of the home at time it was to be purchased was very low for the market. No...