grandmabee Posted April 12, 2011 Report Share Posted April 12, 2011 couple moved out of their home to another state. could not sell home. someone agreeed to lease with option to buy. Did that for about 14 months now they lost their jobs and will not buy. Do I treat this like a rental for the whole time? never had one of these before. any help thanks Quote Link to comment Share on other sites More sharing options...
cathyan Posted April 12, 2011 Report Share Posted April 12, 2011 Yes. In real estate, a lease with an option to buy means that when you are RENTER of a property that you have an opportunity to purchase the property at a later date. If a down payment is given at the beginning of the lease, it is non-refundable to the buyer, and income to the seller. Sometimes a portion of the monthly rent is allocated as future down payment. Quote Link to comment Share on other sites More sharing options...
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