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I sold a place in Colorado on the bases of rent to own but…

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I sold a place in...
I sold a place in Colorado on the bases of rent to own but the other party has decided to not pay what was agreed what should I do.
Submitted: 1 year ago.Category: Real Estate Law
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Answered in 2 minutes by:
3/13/2017
Real Estate Lawyer: legalgems, Arbitrator replied 1 year ago
legalgems
legalgems, Arbitrator
Category: Real Estate Law
Satisfied Customers: 13,014
Experience: Just Answer consultant at Self employed
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Hello! I will be reviewing your question and posting a response momentarily; if you have any follow up questions please respond here. Thanks!

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Real Estate Lawyer: legalgems, Arbitrator replied 1 year ago

Normally the lease will provide what to do in the event of breach-for example the forfeiture of the option deposit. However the landlord would need to evict the tenant by providing notice to cure and then proceeding with legal eviction. Self help eviction is not permitted

https://www.colorado.gov/pacific/sites/default/files/Attachment%2010-Landord%20and%20Tenant%20Rights.pdf

Normally there is a monthly "rent credit" and that is generally forfeited. The terms of the lease option control in that regard.

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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.

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Real Estate Lawyer: legalgems, Arbitrator replied 1 year ago

Hello again; just checking in to see how things worked out;
if you have further questions please don't hesitate to reach out to me here on Just Answer.
Thanks!

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