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PokerNutter

Lease to own scam in the newspaper

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"Brett" makes it sound so sinister: "pretending" to be the owner, "signing as the seller" etc. Like he's never heard of subleasing before :) Of course this whole thing boils down to one barely-mentioned point, that he collected rent from the T/B without paying the L/S. He should be nailed to the wall for that because he had no excuse, as long as the T/B is paying, you must pay the owner. If the T/B stops then you kick them out and they lose their deposit in accord with their agreement. It's so simple and yet some moron will always screw it up and give the media and politicians an excuse to come down on the rest of us.

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There is a whole lot of stuff in that article, on both sides, and the article is slanted in favor of the tenant/buyer. It's hard to say if the reporting is telling the "whole" story. All I can say is when I do my L/Os, I am selling my "interest" in the property, it's up to the t/b to purchase house.

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