Lease with Option Laws in Florida

[DonnaHedrick]

What is the name of your state? Florida

I purchased a run-down home 3 years ago, and spent a year rennovating it. I entered into a lease/purchase option contract with a man who is a real estate broker in Orlando. His option to purchase is up in December of this year.

I have since learned that he has represented himself as owner of the property, and entered into a lease purchase option with another young couple. This young couple is now living in the home, and planning to buy the home from the broker I leased it to.

The broker contacted me last week, and wants to close on the property now. He doesn't know that I know about the contract he has entered into.

Is it legal for him to represent himself as the owner of this property and sell it to someone when he doesn't really own it? Is it legal for him to enter into a contract like this? Any help would be greatly appreciated!

 

[HomeGuru]

What is the name of your state? Florida

I purchased a run-down home 3 years ago, and spent a year rennovating it. I entered into a lease/purchase option contract with a man who is a real estate broker in Orlando. His option to purchase is up in December of this year.

I have since learned that he has represented himself as owner of the property, and entered into a lease purchase option with another young couple. This young couple is now living in the home, and planning to buy the home from the broker I leased it to.

The broker contacted me last week, and wants to close on the property now. He doesn't know that I know about the contract he has entered into.

Is it legal for him to represent himself as the owner of this property and sell it to someone when he doesn't really own it?

**A: it is legal for him to sell (assign) his option or buy the property and then sell it.
Did you have any restriction to such in your option agreement?
******

Is it legal for him to enter into a contract like this? Any help would be greatly appreciated!

**A: yes, unless you can show otherwise as agreed to in your option contract. I take it you acted as your own attorney in this deal.

 

[Some Random Guy]

Why are you asking?

I am wondering why you are asking this question. The second purchase is a matter between the broker and the current tenants.

If you want to screw up your sale to the broker for some reason, you could 'stop by' the house ostensibly 'looking for the broker to discuss selling the house to him', and chat with the current residents. But that would just give you a chance to lose the sale, with no obvious benefit to youself.