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Questions and Professional Answers

Questions and Professional Answers

  • Legality of a lease purchse agreement

    The owner of the house we are leasing had my wife sign my name to the lease and the lease purchase agreement without my consent. I would not have signed the lease purchase agreement because I do not agree with the terms. My wife's name is on the lease but not on the lease purchase agreement. Can the owner hold me to the lease purchase agreement contract??Thanks for your help.
    • Re: Legality of a lease purchse agreement

      If you did not sign or empower someone else to do so on your behalf, then you will not be held to the terms pursuant to that contract.If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

      Glenn M. Lyon, Esq.
      MacGREGOR LYON, LLC
      7 Lenox Pointe, NE, Building Seven
      Atlanta, GA 30324
  • Commercial Real Estate Transaction

    I signed a purchase contract on a commercial property with 3 tenants. One of the tenants is the seller.One other tenant had a valid lease contract and third tenant did not. In the advertisement for the sale and subsequent emails to my agent, the seller agent stated the 3rd tenant will ''sign a lease in 30days''. The purchase contract I signed did not contain any contigency for the lease contract. In short, I was unable to get financing for the purchase mainly because the seller will not produce the lease contract. Can I sue the seller agent for misrepresentation or should I sue my agent for professional negligence for not making this a contigency on the purchase contract
    • Re: Commercial Real Estate Transaction

      You are asking for specific advice on whether, and who, you should sue based on a paragraph. That is beyond the scope of this board. You need to have all of the documents, and all facts, reviewed by a qualified real estate lawyer (not merely a lawyer who solicits any and all types of cases for a fee). The lawyer may also explain why real estate agents are not often charged with protecting all of your legal interests in a transaction. They are not lawyers, and are not held to that standard. The lawyer will also review your contract for a provision that says it is the entire agreement and that you did not rely on any other statements, such as the promise to get the leases. These are matters that are generally negotiated before contracts are signed, and most appropriately by a real estate lawyer.

      Scott Riddle
      Scott B. Riddle, Attorney
      Suite 3250 One Atlantic Center, 1201 West Peachtree St., NW
      Atlanta, GA 30309
    • Re: Commercial Real Estate Transaction

      If the purchase agreement does not condition the sale on getting a lease with the 3rd tenant, you will have a very hard time trying to sue the seller for breach of contract. With regard to your agent, he/she is not responsible for drafting the agreement; that should have been done by an attorney.If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

      Glenn M. Lyon, Esq.
      MacGREGOR LYON, LLC
      7 Lenox Pointe, NE, Building Seven
      Atlanta, GA 30324
  • Lease to own

    Our lease to purchase contract expired. For the last year we have been paying in the same amount as ususal and the original contract states that $150 of that amount is put into escrow towards the purchase of the home. We never signed a new contract so is the landlord required to give back the overpaid amount. The lease option is very vague with no purchase price, interest amount or time frame to excercise option.
    • Re: Lease to own

      You should have an attorney review the language of the agreement to determine if the escrowed amount is refundable or forfeited. SInce an option to purchase is something you usually have to pay for ( most tenans DON'T have the right to purchase their rental property) it would be surprising if the escrowed amount could be refunded.No landlord's attorney would EVER draft the agreement that way.Call or email for further assistance.

      David Anderson
      Mahoney Anderson LLC
      P.O. Box 44504
      Eden Prairie, MN 55344
  • Question about Lease/Purchase Contract

    I have a contract with an agency who is leasing out my old house through a lease/purchase program. In the contract there is a sentence stating, ''tenant will have exclusive option to purchase the above described premises at any time during the term of this lease or any renewals for the sum of $114,000, payable as follows: $10 today and $00 due at closing.'' What does that statement mean? If my payoff amount for the house is less, do I receive the extra funds or do I only get the current payoff amount?
    • Re: Question about Lease/Purchase Contract

      I would need to review entire contract to advise. This would be billable.

      David Anderson
      Mahoney Anderson LLC
      P.O. Box 44504
      Eden Prairie, MN 55344
  • residential lease agreement

    If not stating that a home has a second mortgage on a lease option to buy contract and not finding out until the lease is approx. 3 weeks from termination is this a breech of contract? The lessor sent a letter saying that we would have to purchase the home at contract price then purchase the second mortgage. Can they do this
  • lease to purchase

    I've been in ''lease to purchase'' home for 3 years. I put down $10,000, but have no desire to purchase the home. The contract does state that I will lose downpayment money if lease is terminated, but does not give a specific time for notice if moving out. I was going to give a 30 day, do you think that is adequate?
    • Re: lease to purchase

      Yes, when there is no specific term of years or months in a lease, you have to give 30 days notice.

      Brent Rose
      The Orsini & Rose Law Firm
      410 Ware Boulevard, Suite 401
      Tampa (and Throughout Florida), FL 33619
  • Lease Purchase

    In a lease purchase situation, where there is a sales contract stipulating three sets of deposits on three separate dates; and a lease agreement for occupancy prior to closing...which document takes precedent if the buyer/renter fails to make the deposits in the time frame stipulated? It is my understanding that since the lease was written as a clause in the sales contract, and that the buyer failed to make the deposits per the sales contract, that both would be null and void. Could you please clarify? Is the buyer liable for any damages or rent?
    • Re: Lease Purchase

      NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.In order to provide any viable answer, an attorney would have to review the terms of both instruments. As a general rule, if you breach an agreement, you will have laibilty for damages which may include court costs and attorney's fees, if necessary.Scott R. Jay, Esq.

      Scott R. Jay
      Law Offices of Scott R. Jay
      1575 Northeast 205th Street
      Miami, FL 33179-2133
  • Real Estate/Contract Law

    I signed a real estate lease with an option to purchase. In signing the lease I was lead to believe that the lessor/grantor owned the property as stated in the lease and option to purchase. I now find out that they do not own property and that they have in fact sub-leased the property to me with an option to purchase. And that the mortgage on the property was past due and is possibly subject to foreclosure. Can this lease and option be voided on the basis that the agreement was entered into by acts of fraud and misrepresentation in order to have my option to purchase fee refunded
    • Re: Real Estate/Contract Law

      Yes. You should consult an attorney for the best way to go about this, what other causes of action you may have, and to advise you further if your lessor refuses to comply.

      Robert Thompson
      J. Robert Thompson Attorney
      309 Sycamore St.
      Decatur, GA 30030
    • Re: Real Estate/Contract Law

      Not only fraud and misrepresentation, but also the lack of the grantor's legal capacity to transder title. Consult with a local attorney.

      Charles W. Field
      Charles W. Field, Attorney at Law
      911 Duluth Hwy., Ste. D-3211
      Lawrenceville (north Atlanta), GA 30043
  • Lease/Purchase End of Lease

    I own a property in which a three-year lease purchase contract is complete next month. I have written and asked the tenant several times to notify me in writing his intentions to purchase the property. He will not respond. I want to sell the house and am not interested in leasing any longer. Can I start the eviction process at the beginning of the month when let contract is over? If so, how long will he be able to stay in the house if he pushes the case through the courts? When can I put it on the market to sell? He has been late paying rent the last three months. When I spoke with him he has stated he has too much money invested in the house to let it go. Should I get an attorney now or wait until I go to court? The Home is in Hall County I live in Gwinnett.Thanks for the help.
    • Re: Lease/Purchase End of Lease

      They did not post your question until today, 10.25.2001. Based on what you wrote, I would go on and start the eviction process when the lease is over. It is unlikely that you will get Mr. T to purchase your home. You probably need a lawyer in Gainesville, if Mr. T fights. If you need one to help you (but realize we are in DeKalb), email bsetliff@woodandmeredith.com yours

      Hugh Wood
      Wood & Meredith
      3756 Lavista Road, Suite 250
      Atlanta (tucker), GA 30084
  • Lease/Purchase Agreements

    Under a Lease for Lease/Purchase Agreement, who is responsible for household pests? Contract states that landlord is responsible for ''Pest Control'', broker states that this means termites and wood boring insects, not household pests. Tenant disagrees. Also, contract states that ''carpets are to be cleaned & deodorized to remove all odors prior to occupancy.'' Seller had carpets cleaned once and deodorized twice. Buyer took occupancy prior to cleaning and now contends breach of contract because odor still remains. Final addendum to the Lease/Purchase states that purchaser agrees to buy property ''as is, and request no further repairs from seller.'' No language exists re carpet replacement or what if odor cannot be removed after every reasonable effort has been made. Seller feels they have completed their obligation to the contract. Is this correct?
    • Re: Lease/Purchase Agreements

      I would need to review the entire lease, but it sounds like the landlord would be responsible for pest control, which would include the normal definition of "pest." Whether or not odors still exist can be a judgment call, but if the odor is readily apparent, it could be a breach due to the language "remove all odors."If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.Glenn M. Lyon, EsqMacGregor Lyon, LLCPromenade II1230 Peachtree Street NESuite 1900Atlanta Georgia 30309Phone 404.942.3545Fax 404.795.0993glyon@macgregorlyon.comwww.macgregorlyon.com Confidentiality NoticeThis message is being sent by or on behalf of a lawyer. It is intended exclusively for the individual or entity to which it is addressed. This communication may contain information that is proprietary, privileged or confidential or otherwise legally exempt from disclosure. If you are not the named addressee, you are not authorized to read, print, retain, copy or disseminate this message or any part of it. If you have received this message in error, please notify the sender immediately by e-mail and delete all copies of the message.

      Glenn M. Lyon, Esq.
      MacGREGOR LYON, LLC
      7 Lenox Pointe, NE, Building Seven
      Atlanta, GA 30324