Last July 2006 I signed a contract to lease with an option to buy a house I deposited 5000 and 475/mo of the rent was supoosed to go towards the purchase price of the house. my landlord jus told me 3 wks ago he filed bankcruptcy 2 yrs ago and did not reafirm. the trustee wants the house bought immediately I am not ready and I don't want to be involved in my landlord's litigation
What are my rights and what can I do. Do I have a case? who can I talk to? I dont know where to start. I am planning to move out a the end of this month
I would at least like to reclaim the money I put as a deposit and the money I invested each month
1 Answer from Attorneys
Re: bad contract
The landlord probably spent your deposit, and in bankruptcy it will be hard to get back. You might get a judgment against the landlord for the deposit, which is not discharged in bankruptcy, but that is a technical process which you may not want to research and learn. On the other hand the contract might still be enforced, and it might be in your best interests to negotiate with the trustee to purchase the house. You may also be able to assign your right to purchase the house to a third person - for $5000 - so you can recover your money. Call me for a free consultation.