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MikeT/NC

question for Steve

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I wanted to ask Steve since he's here in NC. Michael please chime in as well. I've got a lady ready to move forward and I was talking with my attorney today about the best way to handle the lease assignment. I know I assign my option but do you assign the lease as well leaving your name on the lease, or do you get the tenant buyer to sign a new lease with the owner and then you just cancel your lease with the owner. The attorney said he would give it some thought as to the best way to approach it where I wouldn't be acting as a broker in finding a lessee for a homeowner. Just wondering how you handled that here in NC where L/Os are so highly regulated.

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Mike, I will defer to Steve, but here's my two cents since you asked. . .

I have always assigned both the lease and the option agreements, and have never had an issue doing business this way. That said, if you were to go with a new lease for the t/b and assign only the option, I don't see any downside to that approach.

 

 

 

PS: the Tarheel State needs new elected officials. :glare:

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