Disclosure on Lease Option - Posted by Tom

Posted by B.L.Renfrow on May 22, 2003 at 16:31:47:

It depends on his contract. What does it say? There’s nothing illegal about buying from a fugitive. The only issue I can think of offhand would be if there’s a lien against the property from a bail bondsman or something like that.

And, assuming your friend is in the middle of a sandwich lease option, how are these potential buyers getting all this information about the original seller? Maybe if your friend has a buyer lined up, he should simply exercise his option, then sell to his buyer, so the ultimate buyer is purchasing from him, not from the fugitive.

Brian (NY)

Disclosure on Lease Option - Posted by Tom

Posted by Tom on May 22, 2003 at 13:45:51:

At the end (final two months) of a 2 year L/O a friend is trying to sell the property. A potential and possibly 2 buyers found that the owner(lessor) is wanted as a fugitive on serious charges, the buyers backed out because he didn’t want get involved in a transaction that would benefit the wanted man. My friend is dealing with the wanted mans mother who represented she owned the property (actually has a POA).

Question - Does my friend have an out on the lease option if he can’t sell due to non-disclosure ?