My brother leased optioned a property 2yrs ago. He put $10,000 down & purchased the property for $80K. Over time he also put $15k into the property. The property is now worth $180K. Intending to refinance & pull some cash out he tried to refinance the property. The loan went fine until he called the person on title to sign off on title & finish transfering it over to him. The father stated that it was his son’s property. (Even though the father signed all the documents) They have the same name. We called the son who said since his father signed the documents it wasn’t legal & that my brother didn’t have any right to refinance the home. The father is a big investor & has put all his properties in the son’s name. It’s almost like they planned this & I wouldn’t doubt if its not the first time they have screwed people this way. We just found out that the lease option period expired on the 15th of November. Is there any legal recourse? Thanks.
Consult an attorney in your area that is familiar with your local laws that can go over the paperwork you signed. This is a real sticky situation and I doubt the members of this forum can properly advise you given the complexity of your issue.
you have a real mess on your hands; consult an atty who specializes in real estate IMMEDIATELY. This is NOT a do-it-yourself situation
I agree with previous posters, that this is a legal matter.
I further speculate (based solely on your limited posting info) that time is of the essence and that you should act quickly to protect your rights.