Legal Question in Real Estate Law in California
i am purchasing a house from my landlady.. i rented it for four years and she offered to sell it to me for 85000.00. i gave her 5000 down and have been making the monthly payments. i recently offered to give her the balance on the note and she refused..can she do that? also , shouldnt the rents be applied to the sale of the property?
2 Answers from Attorneys
What can and can not be done depends almost entirely on the written contract of sale of the property. If the contract does not forbid early payments then you can make them [excess amount goes to principle]; if the contract says nothing about a credit for rents paid, there is no credit [at the time you paid rent you were a tenant and not an owner so none of your payments normally would go to the ownership of the property].
You should have your contract reviewed by an attorney. I cannot tell from your limited post whether you have a lease with an option to purchase, a lease that became a purchase and sale contract, a purchase with an owner carry back, or an installment land sale contract. All of these involve special issues of law.
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