Subject To Property & Lease Option

[Brandon G.]

Just out of curiosity, is it legal to lease option a house that has been acquired subject to?

Also, I've heard that lease options are still legal in Texas if and only if the lease option period is 6 months or less. Is this true?

[Brian Gibbons]

Originally posted by @Joshua Houchins:

@Brandon G. I am not saying it can't be done but I deal with one of the top real estate attorneys in the state and again you don't own the property you are simply taking over the payments and not all mortgage companies will allow you to pay on the actual owners behalf. Since you dId not actual buy the property how are you going to get title insurance? If you doc the existing policy the owner is still on the DOT. His actions can still be docked to the subject property. I just pre warn anyone who is beginner of handling any sort of creative way to obtain "control" not "ownership" of the property. I personally have attempted a few deals earlier on in my career like this and my attorney strongly advised against them everytime. There is a lot that can wrong. Now Texas might have some sort of miricale law that I am not aware of I am just simply stating the risk you are taking.

 Sub 2 purchase and lease w right of first refusal as an exit strategy is the way to go North Carolina