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Tax, SDIRAs & Cost Segregation

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Phillip Dill
  • Investor
  • Humble, TX
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Are Lease options in Texas legal?

Phillip Dill
  • Investor
  • Humble, TX
Posted Dec 19 2016, 12:30

Hey guys I've read a lot about creative ways i could use lease options but then i heard that you can't do it in Texas. Can someone please clarify if Lease Options are illegal ? Thanks

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Fred Heller
  • Real Estate Agent/Property Management
  • Houston, TX
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Fred Heller
  • Real Estate Agent/Property Management
  • Houston, TX
Replied Dec 20 2016, 23:04

They're not illegal but the legislature doesn't like them and recent changes to the law make them very risky for the seller. I wouldn't consider doing one without having an attorney draw up the contract.

Account Closed
  • Investor
  • Princeton, TX
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Account Closed
  • Investor
  • Princeton, TX
Replied Dec 20 2016, 23:14

@Phillip Dill  @Fred Heller  is exactly right.  They are not illegal but if you are planning on being "creative" with them I would suggest you just sign the property over to the buyer and don't look back.

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