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How would a rent to own home lease option work if one of my roomates does not intend on buying the property?
I plan on applying for a mortgage to purchase the house within 18 months. However my roomate only plans on staying for a year. How should the lease be written up, to be both legal and fair to the both of us.
Public Comments
- If your landlord agrees, you can simply rent the property and sublease to your roommate. If the rent is more because of the purchase option, you can reduce your roommate's rent by the amount of the increase if you think that is fair.
- You're probably best of taking this question to an attorney. To be safe I would think your house mate should sign something saying they waive their rights to ownership in any part of the property.
