Legal Question in Real Estate Law in Florida
Lease Purchase
In a lease purchase situation, where there is a sales contract stipulating three sets of deposits on three separate dates; and a lease agreement for occupancy prior to closing...which document takes precedent if the buyer/renter fails to make the deposits in the time frame stipulated? It is my understanding that since the lease was written as a clause in the sales contract, and that the buyer failed to make the deposits per the sales contract, that both would be null and void. Could you please clarify? Is the buyer liable for any damages or rent?
1 Answer from Attorneys
Re: Lease Purchase
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
In order to provide any viable answer, an attorney would have to review the terms of both instruments. As a general rule, if you breach an agreement, you will have laibilty for damages which may include court costs and attorney's fees, if necessary.
Scott R. Jay, Esq.
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