Rent vs Buy in Cleveland>Question Details

Feeling Stup…, Renter in Cleveland, OH

Can I take any actions regarding being lead to believe I was in a lease to own home when in fact the house was sold to someone else.?

Asked by Feeling Stupid, Cleveland, OH Mon Jan 31, 2011

I was told 15 yrs ago that I was in a lease to own home and I would be able to purchase it after the 15 years. Now the 15 yrs is almost here (in July) i found that the house has been sold to another company. The home was built 15 years ago and the rent started off at 360 and I am currently paying 558. It was for low income families because they went by the number of minor children I had and my pay rate. I did not know enough to know that the lease should have probably say lease to own on it. I was just told by the management co. that handled all the business year and year that I would be able to purchase the home. I was never notified of the sale. I just received the bill from the other company that now handles the home. No one has said anything to me personally. I feel that I have been taken advantage of because I was ignorant to certain things, like trusting those people. The only way I know the house was sold is because I know another lady who thought she was buying her house.

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7
In agreeing with Dan (as well as the others), If you did in fact have a rent-to-own, or lease purchase agreement, in the State of Ohio, the contract cannot be voided just because of a trasnfer of ownership of the home. The better question is, were the new owners made aware of this agreement when they purchased the property, or is this going to be a big shock to them?

Check with a real estate attorney (or give your agent a call)
1 vote Thank Flag Link Mon Jan 31, 2011
In Ohio, any type of Option to Purchase or Land Contract ("Rent to Own") must be filed in the County Recorder's Office. In your case, the filing would be with the Cuyahoga County Recorder’s Office. This process is to prevent anyone from buying a property that is under contract. Since you have been told that there is a new owner, you may have been mislead. Do you have anything in writing that says rent to own? Do you have a written lease? You really need to talk to an Attorney who handles residential real estate. If you are a low income family, contact the Legal Aid Society.
0 votes Thank Flag Link Tue Feb 1, 2011
You will have to have some kind of documentation showing that your lease agreement was a "lease with option to buy" failing that, a verbal contract 15 years old is tough to prove. I would get all of your paperwork and names of the people involved and contact a Real Estate Attorney. They should be able to advise you as to your options.
0 votes Thank Flag Link Tue Feb 1, 2011
Has anyone told you it's not? It's possible they sold the home to the new owners understanding your agreement was in place, but it will all come down to what you can prove.
If you have any paperwork signed by your original landlord/seller with the terms you mentioned, you have a case. If it was all verbal, you are in a difficult position. As others have said, find every scrap of paper regarding this and meet with an attorney.
0 votes Thank Flag Link Mon Jan 31, 2011
Consider consulting with an attorney who specializes in real estate, have all related documentation reviewed--he/she can best advise as to any options you may have at this point....
0 votes Thank Flag Link Mon Jan 31, 2011
I second Tony's answer. I have the name of a very good real estate attorney, if you'd like, I can refer you to him.

All the best,
Kieran
0 votes Thank Flag Link Mon Jan 31, 2011
The best thing to do is to take your lease and any other documentation to a Real Estate attorney for review, to discuss your options.
0 votes Thank Flag Link Mon Jan 31, 2011
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