Posted by Ernest Tew on September 28, 2002 at 07:04:18:
While I’m not familiar with the laws of West Virginia, I believe the U.S. Constitution permits anyone to buy and rent property. If you take it a step further by selling the lessee an option (right to buy) the property, it shouldn’t create any problems.
However, if you were to advertise extensively, anyone were to complain, or your dealings were not ethical, it could become a problem.
I would strongly recommend that the Net Lease and Option forms be separate. If you would like to have a copy of the forms we have used for years–and others around the country are using–send me an e-mail.
Posted by Odonohue on September 25, 2002 at 09:19:24:
I am trying to figure out if I can do lease option deals in WV without a license. The state makes it difficult to get a license and I am looking for a way to get some money flowing before having to go through the licensing process. One of the requirements in WV is that you have to have a lot 1200sq. feet and 20 office hours a week. I am looking to start part-time and this is a lot more than I have anticipated. If I can lease option maybe I will not need a license in WV. Any suggestions would help. Thank You.