I just found out that a house that I am doing a lease/purchase on is about to be in foreclosure. What about my deposit and all of my money that was t
27-Feb-2009
This situation is a very real risk involved in doing a Lease/Purchase transaction. Contractually, if your landlord is in default of the contract, you are entitled to a refund of your deposit (unless your contract states otherwise). Having said that.. the reality of that situation is that your landlord may not have your deposit. If this is the case, you would have to pursue the deposit and/or breach of contract in a proper Court of Law.
This situation is a very real risk involved in doing a Lease/Purchase transaction. Contractually, if your landlord is in default of the contract, you are entitled to a refund of your deposit (unless your contract states otherwise). Having said that.. the reality of that situation is that your landlord may not have your deposit. If this is the case, you would have to pursue the deposit and/or breach of contract in a proper Court of Law.
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