I am in a lease purchase and one of the stipulation was that if I did not secure financing I would forfiet the deposit, but also there was an addedum that while I was paying the monthly rent of 1100.00 I paid 250.00 additional making the monthly payment 1350.00 which 250.00 was to come back to me as an additional down payment, nowbecause I could not secure the finance by the end of the lease the owner wants to keep all the monies which totals around 11000.00. I understand about the 5,000.00 not receiving that back but the additional 250.00 per month above the 1100.00 ,onthly payment I am supposed to get tha back, as I stated now the owner wants to keep all of the money, can they do that?
Answered on: 7/23/13, 6:14 am by Glenn M. Lyon, Esq.
It really depends on the exact wording of the lease purchase agreement. Have a local attorney to review it and advise you.
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