What are my rights in a rent to own purchase?
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What are my rights in a rent to own purchase?
I entered into a rent to own agreement 3 years ago. About 2 months ago the landlord said she was ready to sell the house. She had in her head that tomorrow is the closing date when in all reality my mortgage company hasn’t set a closing date. She has threatened to serve me with a 30 day eviction notice tomorrow if we do not close tomorrow. Is that legal? What are my rights? I have to wait on the mortgage company I can’t do anything else as far as I know. She sent a contract to me that she had signed but I never have signed it. What are my rights here?
Asked on April 19, 2012 under Real Estate Law, Oklahoma
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Please, please, please seek legal help here as soon as you can. Your rights are governed by your rent to own agreement. That is what I am assuming you submitted to the mortgage company to show your right to purchase if you did not sign the contract you spoke of here. How the 30 day notice will fit in to all of this is unclear since the agreement governs but if you have continued to pay your rent and are current and the agreement you do have can be seen as a valid lease then you are clear. But it all hinges on the agreement. Good luck.
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