Real Estate Law
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I see that you have a lease purchase agreement which you believe has expired. Without that contract you are only a tenant and would have no obligation to purchase.
The key will be that agreement.
When looking at these documents the key is the working. If the agreement expired and is no longer in force, the parties are free to renegotiate or go their own ways. There would be no basis for depreciation. A potential concern would be whether such a contract provided the occupants the option to buy or a requirement to buy. If there was a commitment to buy by a specified date, the contract may have been breached. When a contract is breached the other party may file a civil suit and seek damages. If there was not a breach, the other party would have no basis to seek damages more so than they could from tenants.
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We were suppose to have purchased the home in TN by 5/31/2012. My husband was to use his VA loan from his ex wife either selling or refinancing the other home that he had which is still hanging out there. We kept them informed during every step of the process and since the homes in the neighborhood or greatly depreciated he thinks that we are suppose to make up the difference from my husband's retirement account in which we are not going to do. He also sent a letter the other day giving us 30 days to vacate home.
Please also address the "colored people" comment that was made in the context of he sold homes to "colored people" when nobody would do business with "them".
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