Legal Question in Real Estate Law in New Mexico
We signed an agreement "rent to buy"one and half years ago at 800.00 a month. The owner stated that the house was "free and clear" as she had paid it off in a settlement.
She now wants to get a loan on it, stating that if the payment is over what we pay, she will pay the difference.
She wants us to sign another agreement, do we have to? Do we have any rights here? Can we be kicked out?
1 Answer from Attorneys
You need competent legal advice from an attorney who has read the agreement. You should absolutely not sign anything until you have that advice and know what your rights are. From the limited facts you present, it definitely does not sound as though what is being proposed is in your best interests. No one can fully advise you without reading the agreement and determining the rights and obligations of the respective parties.
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