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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Can you get your money back from the owner on a lease purchase

Customer Question

Can you get your money back from the owner on a lease purchase if you back out at the end of a lease due to a foundation issue? My son and his wife live in Villa Hills, Kentucky. They have also had to pay for major repairs because it said in their contract that they were responsible for repairs. I didn't think that meant major repairs like a $2,500 insurance deductible for a roof, hot water heater and now cracked foundation and cracks in another wall with broken drainage tile that has to dug up. They had the house inspected four years ago, when they entered into the contract, but didn't consult an attorney before they signed the papers. The original lease was for three years, but they got a year extension until August 1, 2016 because my daughter- in law had to take another year to finish her college degree. The owner raised the rent for the extension year and did not put the $300 a month into their escrow.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 5 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Does the agreement have a termination/cancellation provision?
Did the owner know about the foundation issue and fail to disclose it?

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