Texas Lease Options: Deciphering the Legal Jargon

[Account Closed]

So I have been reading into the Texas Property Code along with a book I bought Texas laws on Lease Options to figure out how to do it without violating any laws. Hehe, Texas has a lot of red tape to wade through.

It states an option fee cannot be forfeited due to late payments. Would this also encompass complete non payment/ eviction?

It's full of riddles and a huge process (you have to divulge the the lender, address, phone, loan balance, principal/ interest itemized before they sign any contract and then every month after they have moved in for example) but I'm reading and rereading it and will be talking with an attorney to make sure my contracts are straight before I ever do anything. Any feedback would be appreciated thanks!

Edit - It also states that you have to give 30 day opportunity to cure any defaults on contract before you can do anything. Does this mean I would have to wait 30 days before I could even start the eviction process?

[Bryan Hancock]

IMO if you write an executory contract in Texas for longer than 6 months you are asking for trouble. Just give the tenant/buyer the deed and foreclose if you have to. This is MUCH easier than trying to tap dance around the lease/option laws.

I can point you to several attorneys in Texas that do this all day long. Don't pay an attorney unfamiliar with the laws to educate them.