Legal Question in Real Estate Law in Georgia

Lease Purchase Agreement Deal
I have a lease with the option to purchase agreement on a property in Chatham county. The agreement allows for me to sublet the property. I plan to resell the property to a tenant/buyer.

So basically the deal is:

1. Right now I do not own the house, but I do have a lease agreement with the option to purchase the property with the owners,(with the right to sublet the property).
2. I have a tenant/buyer in the property who is going to buy from me at a higher price than my option price with the owner.
3. Basically I am looking for someone who has done this before or is familiar with this enough to close the transaction.

Everything is going fine. Basically, I needed to know a few things.

1. Is there anyone in the vicinity of Chatham, GA who would be able to help me close this deal?
2. Would I have to buy the property first then sell?
3. Could I just assign to the tenant Buyer for a fee?
4. Could I file an affidavit of memorandum concerning real estate - then have the tenant/buyer and owner enter into a contract and have the owners sign an agreement for me to realease my agreement?

I need some help with closing this, it should happen in the next 30 - 45 days. If you have experience, please let me know

Asked on 5/14/07, 8:26 pm

Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

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Re: Lease Purchase Agreement Deal

You need to speak with a local qualified attorney considering the complexity of your situation. No one can fully address your concerns in this forum.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

Answered on 5/15/07, 12:41 pm

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