06/10/13, 1:01 pm
We are selling our rental property and are allowing a lease to own deal with the buyers. Do we have to go through a lawyer to have a contract with terms of agreement? (We have agreed with the buyer on all terms.)
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United States   |   Louisiana  |  Real Estate and Real Property
Cost: Free


Donald Hyatt Says:

Sep 06,2013 3:16 PM

Although you could prepare the correct legal paperwork, given the history of such lease to own arrangements in Louisiana it is likely worth the money to pay an attorney to prepare the documents. A mistake in the documents could have very serious unintended consequences, such as inadvertently transferring ownership before intended, attempting to enforce illegal lease to own terms which might void the deal, or other similar problems. As you have the terms fully negotiated, it should not take much time for a good real estate attorney to prepare the documentation. The security and piece of mind you will have from knowing that your rights as the seller are protected is worth the small fee for document preparation in this type of situation. The foregoing is intended as legal information concerning the question asked, but is not intended as legal advice upon which the requesting party may rely in guiding their actions. Rather, the requesting party should consult an attorney for a personal consultation and advice for a full consideration of their situation and rendition of legal advice. Additionally, by providing this general information I am not accepting any representation of the requesting party and I am specifically declining to form an attorney-client relationship with the requesting party unless agreed to later after further consultation and agreement.

Areas of practice listed are are areas of concentration in my practice. I am not board certified in any of the listed areas, and by listing them and describing my practice I am merely describing my experience and the nature of my practice.

Donald Hyatt
Donald L. Hyatt, II, APLC
633 Village Lane North, Suite 105,Mandeville, Louisiana (LA) 70471

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