Legal Question in Landlord & Tenant Law in Missouri
Verbal aggrements are they binding?
My husband and I own a home and have a renter in it. Her lease is with option to buy. Her contract expires in 2weeks and we are giving her till Sept. to buy. She wont be able to buy till Nov. Her and I discussed extending the rent till then. I talked to my husband later in private about it and we both decided not to do so. Is a Verbal agrement binding in MO.?
1 Answer from Attorneys
Re: Verbal aggrements are they binding?
A verbal agreement for the sale of land in MO is probably not valid. If she cannot come up with the money by the time the contract ends, she should, under MO law, forfeit the rights she had to purchase under the contract. However, you can extend that by mutual agreement.
The danger in not extending it is that you do not have an enforceable agreement.
I would suggest you see an attorney so you can make sure your rights are protected.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
