ErikOk 10 Report post Posted July 25, 2012 I'm guessing that John will answer this, but other please chime in too. I've been in contact with a TX attorney, but I was wanting to get feedback from the forum on TX lease purchases. The code reads like this: "An option to purchase real property that includes or is combined or executed concurrently with a residential lease agreement, together with the lease, is considered an executory contract for conveyance of real property." So let's say that the lease is separate (that is it does not include or combine with an option, or even reference the option), and is not executed concurrently (simultaneously). Therefore, the law should NOT apply if the Lease and Option to Purchase stand on their own and are not executed at the same time, right? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 26, 2012 Erik, what does the attorney say about this? He should be your point man on this, no? Share this post Link to post Share on other sites
ErikOk 10 Report post Posted July 26, 2012 Nothing yet, I haven't heard back from him. I'll post feedback when I get it. The way I read it is just my interpretation. Being so close to the Texas border I would like to be able to market there too. Erik, what does the attorney say about this? He should be your point man on this, no? Share this post Link to post Share on other sites
pilot76180 51 Report post Posted July 28, 2012 I have wondered about that, but the bottom line is, that would be incredibly weak to try to explain to a judge that it wasn't an executory contract because the option didn't start for say...4 months AFTER the lease. I find it 's far easier to not figure a way around the law, but just abide by it, and have the required disclosures in place. Share this post Link to post Share on other sites
