Legal Question in Real Estate Law in Florida

Use Your Option

If you have the option I would opt out then offer to reinstate the option clause at a higher rate. Keep in mind the "lease to buy" form of option usually gives the renter some discount for the money the have paid inrent.

Please be sure to seek competant aassitance of a real estate attorney before attempting any action.

Re: Property Value increase solution

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.

It all depends on the Agreement entered by and between the parties. The terms of the Contact will be controlling as to what you can do or not do. Generally, if it is a Lease Option then you are locked into the deal but without reading the actual document, I cannot give you any valid answer.

I strongly suggest that you consult a qualified real estate attorney to have this instrument reviewed and let him/her give you some solid advise.

Scott R. Jay, Esq., 305-249-8000