what if I buy in big river and the lease is up in 2029 will I lose what I bought?

Asked by ragdasscarpenters, Earp, CA Tue Oct 15, 2013

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Alexander Gr…, Agent, San Jose, CA
Tue Oct 15, 2013
Technically you didn't buy anything. You are basically renting the land and house

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes
Jose Ixmay, Agent, Chino Hills, CA
Tue Oct 15, 2013
Good Afternoon,

When you purchase a property you can do so via what is termed "Fee" or "Lease". If you do purchase via the "Lease" option, you do purchase the property for a predetermined amount of time. Once that terms of the contract have been fulfilled the property reverts back to the person who sold you the property.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more