Can my lease with option to buy Lessor refuse to sell the house to me?
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Can my lease with option to buy Lessor refuse to sell the house to me?
I have live in the house I’m buying since 2013. I purchased the home as a residential lease with option to purchase agreement. I purchased the house for $48,000. Currently the house has appreciated to$ 65,000. The contract also came with a amortization schedule. Recently, I decided to sell the house and move on. I contacted the Lessor and informed him of my plans. He was fine with it and wanted off the note anyway. I currently owe as the amortization schedule reads – 35718. Now the Lessor found out about this and is sore over the difference. Now he is demanding $45,000 or he won’t sell. Is this possible or should I just pursue this in court?
Asked on July 2, 2019 under Real Estate Law, Missouri
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Assuming you are in full compliance with the contract (a lease is a contract), then the lessor must sell it to you as per the contract. He can neither refuse to sell nor ask for more money than the contract itself provided for. You could bring a lawsuit in county court for a court order forcing him to sell; you have to decide for yourself whether it is worthwhile for you to do this and you are willing go to through with litigation, or if you'd rather either pay his demand amount or else try to settle with him somewhere in the middle.
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