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Old 01-11-2015, 02:38 AM   #1
Candy Cane
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Default Landlord/tenant rent to own agreement

My husband & I entered a rent to own legal contract in 1995. The contract was to last for 5 years. In the past 19 years, we have paid rent and not renewed the contract. Do we own our home? We have paid for it.
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Old 01-11-2015, 06:54 AM   #2
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Default Re: Landlord/tenant rent to own agreement

I wish to inform you that your agreement will determine your rights. In this regard you may own premises if agreement stated that after 5 years premises will be owned by you then you may own premises becayse then 5 year payment may be treated as purchase price. If you have made payments as rent and not purchase price then premises is not owned by you because then premises was turned to month to month lease after 5 years as amount paid is that as rent.

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Old 01-11-2015, 02:16 PM   #3
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Default Re: Landlord/tenant rent to own agreement

If the terms of your contract were for 5 years, you should have taken steps to obtain the title at that point. Generally such agreements should be registered with the clerk of courts to show as a claim against the property. As landlord does not appear to believe you have fulfilled the contract by transferring title and it took you 19 years to make that determination, the only way you will get the title is through legal action. I suggest you take your contract to a local real estate lawyer for assessment of your claims.
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Old 01-11-2015, 05:19 PM   #4
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Default Re: Landlord/tenant rent to own agreement

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Originally Posted by Candy Cane View Post
My husband & I entered a rent to own legal contract in 1995. The contract was to last for 5 years. In the past 19 years, we have paid rent and not renewed the contract. Do we own our home? We have paid for it.
First of all, any contract you entered into should be seen, read, and interpreted by a real estate attorney. You may have nothing but a glorified rental now and a lot of rent receipts.

Anyone who would venture trying to interpret a document they haven't even seen is giving worthless advice.
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Old 01-12-2015, 02:06 AM   #5
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Default Re: Landlord/tenant rent to own agreement

It will be based on whatever agreement exists between you and the landlord regarding the house and the amounts of money that has been contributed by the two of you for the house. It would seem that there are strong arguments for a court to award the house to you and your husband. You should immediately consult an attorney to discuss all of the facts regarding the house.
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Old 01-12-2015, 07:08 PM   #6
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Default Re: Landlord/tenant rent to own agreement

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It will be based on whatever agreement exists between you and the landlord regarding the house and the amounts of money that has been contributed by the two of you for the house. It would seem that there are strong arguments for a court to award the house to you and your husband. You should immediately consult an attorney to discuss all of the facts regarding the house.
Real estate is not "awarded" to someone without a binding real estate contract to purchase. And the parties each completing their end of the deal.

The agreement signed is critical to making any determination. If it called for a cash out by mortgage after five years, for instance, and the party never got a mortgage to complete the purchase, he became nothing but a renter and lost whatever money he invested in the property. It is reckless to try to advise about a contract they have never seen.
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