Buying or Selling a Home/Breaking a Lease with Option to Purchase
Expert: Sue Bernstein - 3/18/2007
QuestionHi, I live in Michigan and signed a Lease with Option to Purchase with a couple. The lease was 1 yr but on a monthly basis after that. I had a property manager until a few months ago when my property tax shot so high the rent wasn't covering the cost of the house. The tenants are currently 3 weeks past due on March rent. Can I reclaim the house? I am newly married and we are thinking of moving back in to the house. Can we?
AnswerDear Ann,
Right now it sounds like your tenants are in default on their rent. Check your state's laws but you should be able give them notice to move but you have to follow the steps required by your state. You also didn't state whether your tenants are still in the first year of the lease of if they are now month to month. If it is month to month you should be able to give them notice to move. Check your contract and see what terms are spelled out. You might also want to very quickly talk to an eviction attorney. Let him see your contract and also start whatever is necessary to start eviction.
Hope this helps and good luck.
Sue Bernstein