Is it possible for the previous owner to rent the house from the new owner?
August 12, 2022
By Site Producer Attorney & Retired Law Professor
Occasionally, the new owner will agree to rent to you for a limited period of time.
Typically, you will be required to sign a signed rental agreement and pay rent. A “lease back with buy” deal should be avoided at all costs. The person that is leasing the property to you may simply be interested in receiving a large down payment and then terminating the lease agreement due to a minor default. You’re still out of the house, and they keep your money.
To avoid eviction, make a written agreement to vacate by a specific date.
The new owner may agree to give you a little more time to arrange to move in order to avoid the new owner going to court to evict you. There is no legal requirement that the owner do this.
By Site Producer|Published On: August 12th, 2022|Last Updated: September 21st, 2022|
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