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Old 11-19-2007, 09:02 PM   #1
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Default getting screwed

does anyone know the legalitys about realestate as far as renting and such. i am in a rent to own contract but i found out that my "landlord" (if thats what you call him) has not been sending the money i have been giving him for the morgage to the bank and now they are going to auction the house that i am sosposed to be buying. He is still exspecting me to pay rent. Does anyone know the legal aspect of it? I could use some advise/info
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Old 11-19-2007, 09:17 PM   #2
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Default RE: getting screwed

What does your contract say?
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Old 11-19-2007, 09:37 PM   #3
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Default RE: getting screwed

it does not say anything about if the landlord doesnt pay the morgage its a standard rent to own/opition to buy
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Old 11-19-2007, 09:49 PM   #4
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Default RE: getting screwed

I would get a lawyer. That sounds like some fishy shit no pun intended.
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Old 11-19-2007, 09:52 PM   #5
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Default RE: getting screwed

How long have you had a contract for rent to own? You should go tomorrow and file a lien against the property. It may be also according to his mortgage agreement on the property that he did something illegal by doing a rent to own property giving you reason for a lien. I would contact a Real Estate Attorney and have a consultation to what your rights are. If you can't get a lien you may be able to get a Judgment against him personally.Usually a consultation fee runs about 100.00 bucks. Good Luck.
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Old 11-19-2007, 10:01 PM   #6
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Default RE: getting screwed

Quote:
fishin daily (11/19/2007)does anyone know the legality of real estate as far as renting and such. i am in a rent to own contract but i found out that my "landlord" (if thats what you call him) has not been sending the money i have been giving him for the mortgage to the bank and now they are going to auction the house that i am supposed to be buying. He is still expecting me to pay rent. Does anyone know the legal aspect of it? I could use some advise/info


The LL doesn't have to send the money you send him to the bank. It's his money and he can do what he likes with it. The bank can foreclose on the property b/c unless you assumed the mortgage, he is on the hook for it. Your best bet is probably to sue the LL for breach of contract or possible warranty theory.
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Old 11-20-2007, 10:35 PM   #7
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Default RE: getting screwed

thanks for the info
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Old 11-21-2007, 12:08 AM   #8
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Default RE: getting screwed

I'm not an attorney, but I do know, at least in Michigan, there are very specific laws about the portion of your monthly rent that was supossed to go to the purchase price of the house. Your contract should have the specific amount each month, wether its $100, or $300, whatever.

Also, your contract should be time specific, like a 1 year lease WITH OPTION TO BUY, and it may say automatically renews, ect. If this is the case, and you have not reached the end of the contract term, and the house is forclosed before the contract is up, THEN HOW CAN YOU EXERSIZE YOUR RIGHT TO PURCHASE THE HOUSE FROM HIM DURING THAT TIME FRAME???

That is what I would think you have the right to go over him for, total breech of contract, if you were payed the agreed upon monthly lease, with the assumption that you could exersize your purchase option within a time frame, but know that option has been taken away from you. You technically should be able to collect back ALL your rent.

Again, I aint no attorney. I do know you would at least have for sure the right back to the specified monthly amount that was to go toward the purchase price.

Good luck.
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Old 11-21-2007, 12:24 AM   #9
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Default RE: getting screwed

i do not know where you are located but, there is no such thing as renting to own a home according to fl law. my ex-neighbor went thru this a few years ago. he pissed his money away for years then they forelosed on the owner. he was told by attorney that he had been taken and his contract wasn't worth toilett paper. these people prey on less fortunate people that can't get financed,suppossedly happens daily.
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Old 11-21-2007, 12:39 AM   #10
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Default RE: getting screwed

Quote:
Clay-Doh (11/20/2007)I'm not an attorney, but I do know, at least in Michigan, there are very specific laws about the portion of your monthly rent that was supossed to go to the purchase price of the house. Your contract should have the specific amount each month, wether its $100, or $300, whatever.



Also, your contract should be time specific, like a 1 year lease WITH OPTION TO BUY, and it may say automatically renews, ect. If this is the case, and you have not reached the end of the contract term, and the house is forclosed before the contract is up, THEN HOW CAN YOU EXERSIZE YOUR RIGHT TO PURCHASE THE HOUSE FROM HIM DURING THAT TIME FRAME???



That is what I would think you have the right to go over him for, total breech of contract, if you were payed the agreed upon monthly lease, with the assumption that you could exersize your purchase option within a time frame, but know that option has been taken away from you. You technically should be able to collect back ALL your rent.



Again, I aint no attorney. I do know you would at least have for sure the right back to the specified monthly amount that was to go toward the purchase price.



Good luck.
Clay Doh! If you aint an attorney you missed your calling.
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