Agreement Of Sale VS Lease Option
Hello All, I am trying to sell via rent to own. I have the option agreement and the separate rental contract. In my last post on this site /ViewTopic12125-12.html Many good pro's and cons came up with regards to equitable interest (for non refundable deposit) and recording the option. Both of theese I do not want to happen when I am the seller. WHY cann't I use an agreement of sale with a closing date 1 year from Now? It is standard for the contract not to be recordable. A non refundable deposit also often happens. so Why rent to own with a lease agreement and an option agreement? Instead of a lease agreement and an agreement of sale? Keep in mind I am the SELLER. Thanks Again Matt_PA
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you need a lease agreement
you need option to purchase agreement
addendas
and all must be well written and in your favor...
recordable by you and not buyer/tenant
amongst a few other catch phrases and clauses....
You just need good contracts...
reason being...
equitable interest......
your protection!