Legal Question in Real Estate Law in California

A rent-to-own option is an agreement made out between a property owner and a tenant who has the option to buy the property after a few years, typically 2 or 3 years, and the owner agrees to credit a percentage of the rental payments towards the downpayment. This type of agreement has been around for a long time in real estate. But like anything, if it is offered on the web, you have to check it out carefully to see if it's a scam or not. I'm sure there are scammers out there, but there are companies who do offer rent-to-own legitimately, too, I'm sure. I don't know about take over payment schemes but I would think you have to be very careful, as most mortgages require that the bank approves the new person paying on the mortgage, or else an acceleration clause will be triggered.

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