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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Is it leagal to lease to own using the leasee's money? Posted by Gene on October 05, 2001 at 12:35 AM Hello Ward, I'm from Whitier CA. And what I'm asking is if it's leagal to purchase a foreclosed home by borrowing say toms money who could not get in to a home because of credit issues or ignorance. I them turn around and sell him the property at market value with a rent to own contract. What I did is tell Tom I can get him a home with say $10,000.00. Turn around purchase a forclosed home(Tom does not know of this), I hold the deed but I rent the property to Tom with a contrat that will give Tom Ownership of the property after paying say $100,000 in a 20 years. Is this leagal? If not, what would be leagal? I don't have money and my credit is bad. But unlike Tom I'm searching for a way to help my self and help others along the way! Thanks, Gene Follow Ups: Re: Is it leagal to lease to own using the leasee's money? Troy 12:43 AM, 10/08/01 (0) Re: Nothing wrong with your deal, do it again. Ward-CA- 3:48 PM, 10/05/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hello Ward, : I'm from Whitier CA. And what I'm asking is if it's leagal to purchase a foreclosed home by borrowing say toms money who could not get in to a home because of credit issues or ignorance. I them turn around and sell him the property at market value with a rent to own contract. What I did is tell Tom I can get him a home with say $10,000.00. Turn around purchase a forclosed home(Tom does not know of this), I hold the deed but I rent the property to Tom with a contrat that will give Tom Ownership of the property after paying say $100,000 in a 20 years. Is this leagal? : If not, what would be leagal? I don't have money and my credit is bad. But unlike Tom I'm searching for a way to help my self and help others along the way! : Thanks, : Gene Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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