Posted by William Bronchick on February 07, 2002 at 08:35:39:
Too many details and run on sentences here to understand you, but the general answer to your Q: “Is a lease/purchase unsigned enforceable?” - the answer is YES and NO. A lease of up to one year can be oral. A purchase option not in writing is NOT enforceable.
L/P sellers never signed…enforceable? - Posted by limeydale
Posted by limeydale on February 07, 2002 at 06:13:14:
My T/B signed the lease but i didnt.A 3rd party put the deal together(found me a house to buy,found the T/B).I wasnt present at lease signing,wasn’t even invited,(3rd party was well in control at this point).Rehab was taking longer than expected(how many times CAN a guy get taken on one deal?)and T/B moved in.I got the lease from 3rd party 2weeks later.The security deposit box was checked for $1000 which i still havent got(3rd party said it was a finders fee charged to T/B)but am responsible for should T/B not buy and move.Purchase price is $150,000 w/payments $100 over my piti(good acronym).I had to re-fi to pay off const loan,appraisal at $159,900,which left me with a new $127,000 loan.T/B have been in the house since 08/01/01 been late w/payments 4 times and have hinted they want to talk about the lease.SO,my question on this murphys law first deal…is this lease/purchase enforceable or legal one way or the other. Thanx in advance limeydale(WA)