Rent with option to purchase is not something that is offered by a Real Estate Company. It is an option that a Seller gives to a Buyer. It is normally offered by a Seller who is interested in selling their property but does not have a problem renting it to someone who is willing to buy it in the very near future.
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I would make sure that this person is in fact the new owner before making any payments to anyone. If in fact he is the new owner and is planning on continuing the lease that you have signed, then yes he has the right to collect rent payments.
Even though the property was in foreclosure, you still had a signed lease that you were obligated to make good on by making your monthly payments. Seems like the previous owner gave you a break by not collecting rent.... more