Re: Followup Question - Posted by Jim IL
Posted by Jim IL on January 18, 2001 at 22:08:55:
Honestly I have never even thought about that as an issue.
However, since when I sell via a L/O, I use two seperate agreements for the buyer, a lease and an option agreement, I’d only mention the rent credits if there were any in the option.
This way, when/if the T/B’er defaults, the option is null and void, because the corresponding lease was violated.
Isn’t the “equitable interest” argument why we use seperate agreements anyway.
But, again, I generally do not pay rent credits, so the issue is not one I plan to deal with much if at all anyway.
Let us know if you find anything else about this. It would make interesting reading.
P.S. Was that the Alpine machine you referred to in another post?