Legal Question in Real Estate Law in Arizona

Re: Form for purchase and leaseback with purchase option

The purpose of this forum is for practicing attorneys to give information to answer legal questions posed by the public. I am personally acquainted with people who paid thousands of dollars to attend seminars to teach them to be investors, and part of the instruction they receive forms to buy fro distressed owners and lease back to them. They still get themselves in trouble with these contracts, since they are laymen.

It is not expensive to use an attorney for this sort of transaction, compared to the benefits and risks of doing it yourself. That is my advice. I do not know of a source to purchase "forms" for this type of tansaction that are as detailed as the agreements with these kinds of parties to the transaction usually need.

Good luck.

James D. Jenkins

Re: Form for purchase and leaseback with purchase option

You may be able to find a form for the purpose you describe, however, I would caution you and advise you not to utilize a form. I have not yet seen a form which can be properly utilized by someone without expertise and experience with the transaction involved and who knows how to modify the form so that it reads correctly and works the way that you want it to work.

You would be pennywise and pound foolish to do what you propose without the advice of competent counsel and paper work/an agreement designed to meet your needs. Remember, if there is a breach of the agreement, the contract must withstand the scrutiny of the court and opposing counsel.