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Consideration, the Sufficiency of Which is Hereby Acknowledged, Landlord and Tenant Hereby Form

Consideration, the Sufficiency of Which is Hereby Acknowledged, Landlord and Tenant Hereby Form

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now rent to own that's what's known commonly as a contract for deed those are also a bit messy because once the renter to own person has paid 40% of the purchase price they are entitled to a deed and a deed of trust and a promisory note and they can call it any time and if you're trying to evict somebody in that situation who has been there for 8 years and has passed the 40% threshold you're going to district court and this is going to languish for years if it's contested because they've got Equity now in the property and chapter 5 protects that equity and so you do not have a conventional tenant and and because of that I don't recommend those deals I would prefer that you start off with a deed deed of trust and a promisory note which upon default you could exercise with a foreclosure and then be done with them as opposed to going through a title dispute in the district court which could go on for years

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