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Updated almost 2 years ago on . Most recent reply
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Lease option question for Ohio
I have a property that I am looking to buy in Ohio that I am considering doing a lease option as my exit strategy, is there anything that I need to be aware of to be compliant for Ohio?
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Quote from @Joe S.:
I have a property that I am looking to buy in Ohio that I am considering doing a lease option as my exit strategy, is there anything that I need to be aware of to be compliant for Ohio?
So you're going to buy the property? And then lease it out with a tenant who has an option to buy it within a certain amount of time for an agreed upon price?
You'll want to confirm with the lender that that doesn't trigger a due on sale clause due to the lease option tenant now having an "ownership interest" in the property.
I would consult with a title attorney for this.
- Marc Rice
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