Re: Buying a house without a mortgage
Yes, the parties can do what they want, if you find a seller willing to agree. That said, if I were the seller dealing with your proposal, I would ensure that title to the house would not pass, i.e., there would be no closing, until the "rent" you paid towards the purchase price had been fully paid off. Until then, you would be a mere tenant and the owner would be the landlord.
But, that's just me, and if you found a seller willing to do what you wanted, I know of no legal prohibition against it.
-- Kenneth J. Ashman; www.AshmanLawOffices.com; KAshman@AshmanLawOffices.com
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