Lease Option Contract Setup- What NOT To Do

[Account Closed]

Hello to the BP community.

I am currently working with a RE lawyer to set up a lease option agreement as a seller. I have been seeing numerous posting about legal issues that come from a lease option from the sellers standing and I want to hear some more advice on them. I was seeing that banks typically want a LO to be at least 30mos before they consider it a disguised sale and could potentially trigger the due on sale clause. I'm in NY so I especially would like to hear feedback from you fellow New Yorkers who have experience dealing with this type of thing.

I will be going back to meet with my lawyer in a couple weeks so I'd like to have a good amount of questions to ask and make sure that my contract is solid and will offer me the most protection from as the seller.

Looking forward to hearing what you all have to say!

Thanks,

Amber