rent to buy
in a rental agreement, where the implied intent is the evetual purchase the property, can a deposit for the purchase of the home, can this deposit be deemed the rental deposit if the sale does not go through, and be stimpulated as being no refundable. during this period of renting with the pending decesion to purchase the property, what are the duties of the landlord for upkeep and insurance, who has the insurable interest?
Re: rent to buy
Mr. Gonzalez’s reply was excellent. The parties
can reach any agreement they want. It is best
to put it in writing. There are situations where
agreements may be implied as a result of parties’
conduct or statements. One would need to know
all the facts and circumstances before rendering
an opinion. I strongly suggest you seek the
advice of counsel.
Randall Reder
Randall O. Reder, P.A.
1319 W. Fletcher Ave.
Tampa, FL 33612-3310
Re: rent to buy
Your question is all over the place and fails to provide sufficient facts, but I’ll give it a shot. There is no such thing as an implied intent to purchase in any rental or lease agreement. If the tenant wants an option to purchase the leased premises, such an option must be expressly set forth in the lease (with a purchase option). The option language is either part of the body of the lease or attached to the lease as an addendum. If your current lease does not have the option language, then the parties can simply amend the lease or enter into a new lease that accurately reflects the modification.
As concerns the deposit, the parties can agree to allow the security deposit to be applied toward the purchase price in a lease with an option to purchase scenario. Or, the parties can agree that the deposit will not be credited toward the purchase price. The parties can also agree that the deposit is non-refundable and not applicable or credited to the purchase price, assuming the tenant/buyer exercises the purchase option. In short, the parties can agree to do a variety of things with the deposit.
The duties of the landlord are generally the same whether or not you have an option to purchase under the lease agreement. See chapter 83 of the Florida Statutes (available on-line) which sets forth the duties and responsibilities of residential (not commercial) landlords.
Seek the advice of counsel and good luck.
Peter Gonzalez
Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP
2333 Ponce De Leon Blvd., Suite 302
Coral Gables, FL 33134