All Topics / Help Needed! / setting up an equity lease

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  • Profile photo of burbonbillburbonbill
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    @burbonbill
    Join Date: 2003
    Post Count: 16
    February 2, 2004 - 12:42 am

    [8D]any one have any thoughts on how to word an equity lease.
    i have a the idea of what it can do but need help in the wording, essentially its a long term lease that lock the tenant into a five year lease at a rate of rent just above the market and to rise with each year say 10%,at the end of the lease we would pay the tenant 25%of the capital gain just for staying in the house and paying the rent on time and looking after the property a win win for both of us thanks burbonbill

    Profile photo of melbearmelbear
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    @melbear
    Join Date: 2003
    Post Count: 2,429
    February 8, 2004 - 4:08 am

    Bill, what we did was to take to our solicitor, in point form, what we wanted included. Also remembering to allow the tenant to place a caveat on the title, to ensure that there will be funds available to ‘give’ them when the contract is up.

    I had another response, but the computer ate it, so I’ve abbreviated somewhat.

    Cheers
    Mel

    Profile photo of burbonbillburbonbill
    Participant
    @burbonbill
    Join Date: 2003
    Post Count: 16
    February 8, 2004 - 1:21 pm

    [8D]thanks melbear will do just that

Viewing 3 posts - 1 through 3 (of 3 total)

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