Landlord Question and Answer Forum

Forum / Leasing Issues / rent with option to buy

does anyone know the answer to this question? i have tennants in my home they signed a lease for 1 yr. they also signed and addendum for with rent with the option to buy. they gave a deposit with the contingency to obtain a mortgage by a certain date or they will forfeit the deposit. the state is new jersey. my question is if they do not obtain a mortgage by said date they lose the deposit.

Diane F, NJ on Thursday, March 15, 2012

RE: rent with option to buy

This is a touchy subject... you may want to consult an attorney within your state.

Posted by Jess S, NY on Thursday, March 15, 2012

Return to the Leasing Issues Forum

Read related Leasing Issues Articles

Documents related to this forum

Articles related to this forum

Does Your Special Property Need a Lease Agreement?
Posted April 24, 2017 Reader Rating:
My Tenant Backed Out of the Lease - Now What?
Posted December 22, 2016 Reader Rating:
Should I Call a Lawyer?
Posted November 10, 2016 Reader Rating:
Should Your Rental Lease Have a Marijuana Clause?
Posted July 27, 2016 Reader Rating:

Highest Rated Discussions
how much money to collect now? Author: Wilfred C, NJ Updated: 04/03/2019 Rating:
Tenant moved out before lease expiration Author: K2 V, CA Updated: 04/03/2019 Rating:
Unauthorized Occupants Author: Jaspreet D, VA Updated: 06/17/2015 Rating:
Renting to someone who had bankruptcy/foreclosure Author: Trevor R, IL Updated: 11/11/2013 Rating:
Tenant Lost Job Before Move In Date Author: Daniel P, AR Updated: 03/22/2016 Rating:

The forum is completely free to anyone! If you wish to post a message, you must log in. If you are not registered already, Join today to create a free account!

Any comments and opinions that are expressed by the users of this forum are solely those of the authors, and have not been reviewed or approved by ezLandlordForms.