kfinkelstein 0 Report post Posted August 10, 2012 Did a search with no luck. Working on a deal right now. Seller calls me and says she was told by someone that you can't lease for more than a year in Florida. A quick google search shows this is at least not untrue. Does a lease with option to purchase allow for the three year term, or should I just do a renewable 1 year lease with a 3 year option to purchase? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted August 10, 2012 To my knowledge that is not true. Ask the seller to direct you to the statute that specifies this. I've done multiple year lease options with attorneys involved and the length of lease has never been questioned. However, if you are concerned about this, do the renewable lease as you mentioned above. Share this post Link to post Share on other sites
kfinkelstein 0 Report post Posted August 10, 2012 Thanks for the reply. I got in contact with a buddy of mine who's been practicing real-estate locally. His answer was that the law only applies to real-estate agents, and that owners of the property are exempt. Hes gunna look it up. Ill update with the definitive answer for posterity. Share this post Link to post Share on other sites
kfinkelstein 0 Report post Posted September 1, 2012 A lease longer than a year should be drafted (read: rubber stamped) specifically to the deal by a lawyer. Its pretty common and most lawyers around here will do it for a flat rate of 50-125 depending on how many last names are in the title of the company they work for. Can probably get away with not doing it, considering the principle to homeowner relationship, but if it ever goes to court, compliance would likely win a few brownie points. Share this post Link to post Share on other sites
