Legal Question in Real Estate Law in Louisiana

I want to lease purchase my home and have a buyer. The co-buyer of my house who is my ex boss says that he will not allow this and I must sell the house out right. The bank that holds our mortgage says they do not have a problem with my idea of what to do with the home. The house is worth way below what we owe and needs more repairs than I can afford to put into it and the co buyer wants no responsiblity for the home. The potential buyers are aware of the condition of the home and are more than willing to take it as is. I have not paid the house note or insurances on the home since the co buyer refuses to let me do the lease purchase. I have since moved to another home. Does he really have more rights than I since I have been the only one who has made payments on the mortgage plus the taxes and insurances and resided in it ? And does he have legal recourse against me for not paying anything anymore because he refuses to let me lease purchase the home? He is very wealthy and I am not. He will not let it go into foreclosure, but I would rather it not go that far. I was told by one lawyer I can do what I want and another saying he has more rights than I do. Very confused.


Asked on 5/03/10, 7:59 pm

1 Answer from Attorneys
Nick Pizzolatto, Jr. Pizzolatto Law Office

Other than his wealth, each of you have the same rights. You cannot force him to agree to a lease purchase and you cannot be forced to sell it outright. Unfortunately that leaves you right where you are. So, if you cannot sell it outright for what you want to do the lease purchase for, then you are stuck with it. Or you can ask the court to sell it.

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Answered on 5/09/10, 11:29 am


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