Can I Lease to Own a house - Lease to a Tenent-Buyer?

[Cecil Russell]

Is it legal to enter into a Contract with Seller a Lease with an Option to Purchase and while in that Contract then Lease with an Option to Purchase the same home to a Leasee?

[Michael Evans]

Ask a real estate attorney in the state you are looking to do this in.  Each state has different law.  I can tell you that it is best to always have the option to buy the house separate from the lease.  We have a 30-year lease-purchase investment where the tenant has the option (but not the obligation) to purchase our house at a fixed price for 30 years.  We separately enter into a 30-year lease agreement where the client has the option (but not the obligation) to lease our house for 30 years.  They are only obligated to lease the house for 12 months.  If they terminate the lease, the option to buy the house also terminates.  None of the lease payments go towards the purchase of the house.  They are paying to "use" the house, much like a vehicle lease.  There are even "excessive wear and tear" clauses in the lease that have penalties (much like a car lease) and we can actually terminate the lease for excessive wear and tear.

Make sure you talk to an attorney though.

God Bless You!