Legal Question in Landlord & Tenant Law in South Carolina

Question about Lease/Purchase Contract

I have a contract with an agency who is leasing out my old house through a lease/purchase program. In the contract there is a sentence stating, ''tenant will have exclusive option to purchase the above described premises at any time during the term of this lease or any renewals for the sum of $114,000, payable as follows: $10 today and $00 due at closing.'' What does that statement mean? If my payoff amount for the house is less, do I receive the extra funds or do I only get the current payoff amount?


Asked on 3/27/07, 7:52 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Question about Lease/Purchase Contract

I would need to review entire contract to advise. This would be billable.

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Answered on 3/27/07, 8:58 pm


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