A lease is a legal document that stipulates the terms of a rental agreement, to protect both the renter and the landlord. Learn more in the articles, columns, blog posts, videos and radio shows about what should be included in a lease and the different options out there.
If you're trying to sell your home in a tough housing market you might consider offering a lease purchase. In a lease purchase the seller rents the property to a tenant who may later buy it. The tenant puts down a non-refundable option fee which goes toward the purchase of the home. Learn about how lease purchases work and if it's the right choice for you.
A lien waiver is a legal form that builders and suppliers fill out indicating that they have been paid in full from a job and that they waive any right against the property they worked on or delivered materials to. If building a home, you should make sure you get the lien waiver from the supplier before you pay him or her, or in exchange for the check, so you have some protection.
When a tenant breaks a rental lease early, it can cause a host of problems. An early termination fee will help curb problems you can have with the renter, along with scheduling a final walk-through to document the condition. Working with a real estate attorney can also ensure you're handing your rental property and tenants according to the law.
Lease terms dictate what a tenant can and cannot do to a rental property. As a landlord that has damage done by a tenant, his best recourse is to keep the security deposit. Most leases will provide that the tenant can't alter or modify the leased home without the landlord's permission.
First-time buyers who can't quite afford to own a home often look for rent-to-own properties, also known as lease/options. You just want to make sure you're not getting scammed if you opt in to a rent-to-own agreement. There are also owners that take advantage of their tenants in a rent-to-own agreement.
To be a successful landlord, you must have the temperament and financial wherewithal to handle the problems associated with renting property. Unfortunately in a slow real estate market, many homeowners are forced to rent their homes when they cannot sell. Make it a goal to sell your property as quickly as possible, but prepare yourself for becoming a landlord by reading books or consulting an attorney.
A life estate might be an option for this neighbor. But a lease might be a better solution and be easier to deal with. Here's why a lease might benefit both sides more than a life estate.
A homeowner asks how to get a lien released if the mortgage company was bought out by another company. There should be a surviving mortgage company that continues to have the obligation to release the lien. The homeowner should be able to find out who purchased the mortgage company and call the department that releases liens.
A young couple had agreed to a lease/option agreement on a new home. After the death of the young woman, the husband is wondering if he can get a refund of the option amount they had paid toward the lease. Lease/option payments are typically non refundable, but a real estate attorney may be able to discuss what options are available.
What do you do if you pay off your mortgage, but there is still a lien on your home? If the mortgage company you bought the loan from is no longer in existence, there is still a way to get the lien off your house and prove you paid off the mortgage. Ilyce suggests that a local title company may be able to track down the mortgage company and get the lien off of the house.