I don't do that, but it's something to think about.Not sure your idea of "if you don't respond otherwise in XX days this goes into effect" would be legal or stand up in court.

Look up the homeowner on Casenet and see if they have a lot of links/court cases to perhaps discredit them for your own peace of mind right out of the gate.

On a second note i do plan on taking them to court for breaking the lease and for the "Stop Payment" they put on the money order for November's rent.Thanks for your advise in advance,Chris

Wait until your business partner has been declared incompetent and his heirs challange the investment made.Or, what happens when your business investor decides to enter into some other illegal activity and is caught and a judge orders the liquidation of his assets and business interests.Your investor has tax liens?

If you know they're willing to pick and choose which laws they're going to obey, before they even move in, can you actually expect to use the US court system to bounce them out when they ignore the terms of your lease?

My concern is what if he doesn't fulfill his obligation to the bankruptcy court?

As a result, LL may be in eviction court every other month (learn how to use the civil computers downtown to be able to tell).

It all boils down to being in court.

With my luck, I'd buy a 1,000 acres for 10K US, then someone would file forged documents and take me to court and they would find in thier favor, if I was on premises, I'd probably be arrested for tresspassing and get a court date in a year, be fund guilty and serve 5 years, but someone in prison would get killed and I'd get blamed and end up with a life sentence!

Just because NAR provides a widely accepted and tried contract in a court of law doesn't mean a specifically drafted contract won't work as long as it meets the requirements to be binding.