Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

Account Closed
  • Private Money Lender
  • Oklahoma
32
Votes |
163
Posts

Texas Lease Options: Deciphering the Legal Jargon

Account Closed
  • Private Money Lender
  • Oklahoma
Posted

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?

Loading replies...