Lancaster PA · Member since 2018 · 1 post · 0 votes
Hello,
I am new to BP and this is my first post. I am from Lancaster, PA and this is my first deal. I am doing a Master Lease Agreement with my mom for her 6 unit apt. building. 5 residential and 1 commercial.
We have all the documents typed up and ready to execute (Master Lease Agreement & Option), but my question is, what is the next step? Are we able to execute these two documents ourselves and I take over managing the property? Does this legally need to be recorded anywhere?
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
8y
@Joel Keefer explain what you mean by a master lease. Are you doing a lease option agreement with your mother to buy the building? If so then it doesnt need to be recorded. Make sure you have proper insurances in place etc.. You may want to consider having an attorney with EXPERIENCE with lease options just to guide you. Making sure you have your details correct etc...