All Topics / Help Needed! / buy lease option

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  • Profile photo of Indigo58Indigo58
    Member
    @indigo58
    Join Date: 2005
    Post Count: 1
    November 16, 2005 - 7:37 am

    Hi this is my first go – could someone please let me know when you buy a property on lease buy option can you then rent it out to someone else.
    Thank you in aadvance for any information.
    Indigo58

    C Thomsen

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    November 16, 2005 - 7:55 am

    Hi Indigo and welcome to the forum.

    The answer to this qwuestion would lie in the conditions of the Lease Option.

    Normally in most Lease Options or Installment Contracts the express permission of the Seller is required for the property to be sublet.

    We include this clause in our contracts and it would need to be a very good reason why we would ever allow it.

    Cheers Richard
    Ph: 07 3720 1888
    [email protected]
    http://www.yourstatefinance.com

    Specialising in US & IP finance.

    Richard Taylor | Australia's leading private lender

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