Need Texas Experience/Help- lease-option lease-purchase
Good morning BP,
I have a buyer that is interested in as lease-purchase agreement. I have no experience with these. Curious if anyone has suggestions for someone in the New Braunfels, Texas area who could help with this.
Thanks.
Matt
Most Popular Reply
These are not for the faint of heart Matthew. Texas has special regulations on these types of transactions. Any agent who drafts this up without being a principal in the transaction can easily end up in hot water with regulators as TREC has repeatedly indicated they would see this as the practice of law IF a lease is combined with an option contract and the option exceeds 180 days, in which case the contract becomes an executory contract.