Advices on a deal with an old owner with memory condition.

[Andy Chen]

I am looking at an off-market deal and the owner is old and seems having a bit memory issue. He also wants to lease back which is fine by me.

Do you have any suggestions? I am a bit concerned that he will come back and deny any agreements that we had made.

I believe that the contract has the legality but I definitely don’t want to be any situations that I have to argue with old gentleman.

I was thinking to record the signing process and make sure we explain the term clearly and have his agreements.

I would very appreciate your suggestions.

Thanks

Andy

[Eliott Elias]

Sounds like a law suit. I would get a attorney involved and have it disclosed that he has memory loss and he knows and understands what kind of decisions he is making.