Legal Question in Real Estate Law in California

Lease obligation

I have a lease agreement with a family living in my home. This lease is due up on 4/1/05. We allowed them into our home since we could not afford it and they were suppose to buy it in July of last year. That changed to November and now this month. They could not qualify and have to have a co-signer. No paperwork has been started or done. We put this into the lease ''A year to buy the home at the fixed price of 225,000 all extra equity to buyer''. I think we made a mistake, does this mean we cannot sell our home till the lease is up or can we sell it to another buyer? I am not sure what to do at this point and need help. We just want to sell our home. Thank you.


Asked on 1/18/05, 9:19 am

1 Answer from Attorneys
Daniel Harrison Berger Harrison, APC

Re: Lease obligation

Is there an agreement for the purchase of the home between you and your tenant? If not, you can sell the property subject to the tenant's lease rights. You or the new buyer can give the tenant a notice to terminate the lease when the term is up. It may be more efficient to simply ask the tenant to leave and offer to pay the tenant some money.

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Answered on 1/18/05, 10:09 am


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