Legal Question in Real Estate Law in Illinois

Can I back out of selling on a lease with option to buy?

I was moving out of town and did a lease with option to buy on my home with some friends. I had to move back to town and I even lived in homeless shelter for a bit. I've asked the people in the house to get it put into their name so I can get a home. So far, nothing. They have done nothing. I've had to file bankrupt and kept the house because it was in a contract. Now I'll not be able to get another home for several years. Can I NOT sell or tell them I do not want to sell now? It is in the lease they have to let me know if they intend to buy the house. They don't call me for anything. They wont even let me in the house tho the lease said they have to. What are my options? Will I have to pay them back all the lease money or pay them to break the lease? What do I need to do? The lease expires in about 6 months.


Asked on 11/13/07, 2:39 pm

3 Answers from Attorneys
Mary McDonagh McDonagh-Faherty Law Offices

Re: Can I back out of selling on a lease with option to buy?

Unfortunately, it all comes down to the written contract so bring it to a lawyer to review

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Answered on 11/28/07, 3:57 pm

Re: Can I back out of selling on a lease with option to buy?

A lawyer would have to read the lease in order to answer your questions.

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Answered on 11/13/07, 4:07 pm
Nicholas Chrisos Nicholas G. Chrisos Attorney at Law

Re: Can I back out of selling on a lease with option to buy?

First of all, let me apologize for the delay in answering your question. I'd have to see and analyze the Lease Option document in order to tell you what your rights are. Without that, it's impossible for me to know if you can have them evicted or whatever.

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Answered on 11/27/07, 4:16 pm


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