Posted by Jon Richards on December 15, 2000 at 22:54:27:
Gerald,
Your question is too broad for a definitive answer by email. but there is a lot written about “leases with options to purchase.” In fact, in CA there are preprinted contracts allowing people to rent with a portion of their rent accumulating toward a down payment.
On this very bulletin board you can locate, I’m sure, Claude Diamond, an attorney who has classes on lease optioning and a lot of info.
For an alternative view, go to www.johntreed.com to see why he thinks they can be dangerous and unethical.
An internet search beyond these two will yield you a lot of good information. Personnally I think lease-options if done carefully can be lucrative for both the property seller and the property buyer.
Best of Luck
Jon Richards, NoteWorthyh