Posted by Randy (SD) on December 15, 2005 at 12:27:28:
Texas and numerous other states instituted similar legislation last year and early this year, there has been a great deal of discussion on the topic (search the archives) bottom line is, if you can’t perform don’t enter into lease option agreements.
new law for l/o - Posted by shelly
Posted by shelly on December 15, 2005 at 10:09:53:
anyone heard of the new law going into effect jan 1 on l/o
as per the newspaper,you will need clear legal title to the properties that are offered for sale under the l/o method.seems there is an abuse that the properties are not being given the buyer after the term is up and or not going to closing as a result of the tenant paying late.it states that minor excuses will not be allowed for many to hold onto the property because of minor reasons.Dec 14,2005 paper,daily press page c10.Attorney gen in Fla is investigating a big promotor who defrauded many to be buyers???