Legal Question in Real Estate Law in New Jersey

Hello, I am in a pickle, I filed chapter 7 and walked from my home, I had someone that was willing to allow me to take over their home as they were moving to another State, knowing I was not able to get a mortgage for two years following my discharge, I agreed to pay their mortgage/insurance and any other costs, I have been doing this now for 10 months, some repairs have come up since then, thus far just over $1,500.00 in bills for repairs, a few of the repairman that came here advised me that this home was in bad shape and would never pass a inspection, the foundation has issues, an old oil tank was buried under the home, electrical wires are just laying on the bottom of the ground in the crawl space, mold is starting on the rafters, most of the plumbing needs to be replaced, etc.we put together a lease/purchase, ( form was from staples) many errors on this, and requested it be re-done, ) it's been 10 months now and still no paperwork or revised forms, after asking twice now, none of the rent I pay is being put towards the purchase price and no C.O. was ever completed.

Can I get out of this nightmare just based on the violations? I would like to be able to just walk, and hope that I could get financed before the two year wait is up ( because of the chapter 7) so I am dumping my money into something that is mine, or am I stuck with this Land Boat?

Thank you for your time and consideration to my question.


Asked on 4/27/12, 2:13 pm

1 Answer from Attorneys
Jeffrey Walters Law Offices of Jeffrey S. Walters, LLC

Your rights and options depend on your agreement with the other party. It is not clear from your question what exactly you agreed to, or how much of this agreement is set forth in writing. A model agreement from Staples was unwise. If you would like to explore your rights and options, I suggest that you have an attorney review the Contract and any other documents. Feel free to contact me if you would like to discuss further.

Read more
Answered on 4/27/12, 5:30 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New Jersey