Legal Question in Real Estate Law in Florida

Before the recession, I Signed a private lease/purchase agreement with a homeowner to buy his home. With a $5000 deposit. The agreement stated that I had to get my own financing by the same time the next year or the contract was no longer. It read that my mortgage was $1200/month, $400 of which would go toward the total purchase price of the home. When the date passed, we never signed any other agreement. For the next year and a half we lived in the home at the same rate, but technically it was month to month. At that point I could no longer afford the mortgage and asked the landloard to bring me down to the rental price of the property or I would be forced to move the very next month. Since the lease/purchase agreement had been over for almost 2 years. Then, suddenly with a months notice he asked me to vacate his premisis so he could sell the home. Even threatening eviction before the month was even up. Now I'm out.

My question is, am I entitled to any of the money that was collected towards the purchase price for all that time when our purchase agreement was void?


Asked on 8/20/10, 8:08 pm

1 Answer from Attorneys
Richard Kaplan

It depends on what the agreement says. But based on the limited amount you provided, if you didn't proceed to close when you did, then it looks like you forfeited the deposit.

Read more
Answered on 8/25/10, 8:19 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida