rent with option to buy : ezLandlordForms

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rent with option to buy

D

Diane F

started a topic almost 13 years ago

does anyone know the answer to this question? i have tennants in my home they signed a lease for 1 yr. they also signed and addendum for with rent with the option to buy. they gave a deposit with the contingency to obtain a mortgage by a certain date or they will forfeit the deposit. the state is new jersey. my question is if they do not obtain a mortgage by said date they lose the deposit.

1 Comment

J

Jess S

said almost 13 years ago

This is a touchy subject... you may want to consult an attorney within your state.

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