Legal Question in Real Estate Law in Illinois

I know someone who has been living in a house that her parents own and they do pay rent. The expectation was they would purchase the house when finances/credit is fully repaired. They have made improvements to the property (fence, appliances, refinished hard wood floors, painted, and etc.) There is no rental agreement or anything in place just a verbal agreement that when they can get financing they will purchase the property. Recently they had a disagreement with the parents (not about the property) and now the parents are trying to make them sign a lease. They do not have a problem signing the lease but want to make sure they do not lose out on the money they put into the property out of their own pocket. Do they have any legal grounds to stand on recouping the money they put into the house?

Asked on 10/10/13, 2:16 pm

1 Answer from Attorneys

0 users found helpful
0 attorneys agreed

We don't answer questions for people who "know someone" - we want to help those who have issues and ask us themselves. So the best you can do is recommend that this "someone" talk to an attorney. A lease that could lead to a purchase of the property should be properly negotiated and written up and cover all issues and concerns.

Read more
Answered on 10/11/13, 7:34 am

Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Glen AshmanAshman Law OfficeAtlanta, GA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now