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Lease and Option to purchase (Louisiana)

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Patrick in Doyline Guest	Posted: Mon Sep 26, 2011 11:55 am    Post subject: Lease and Option to purchase (Louisiana) Like 0 Dislike 0 Is it true that in Louisiana a grantor can take back the property from the grantee at any time for any reason? This has happened in my area. Does the buyer (victim), have any recourse? The statement on his agreement that supposedly means that says, Further, the GRANTOR at their option, may declare the lease forfeited, may, without further notice or requirements of any sort, reclaim the leased premises and may declare the lease null and void, and may re-lease the property at their discretion. The people being thrown onto the stree have been paying the notes on time, and have invested 20k so far. p.m.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Sep 26, 2011 7:22 pm    Post subject: Like 0 Dislike 0 Hi Patrick! Welcome to forums! The grantor cannot take back the property from the grantee at any time or for any reason. It is the grantee who will have to sign a quitclaim deed and transfer the property to the grantor. If the grantor forces the buyer for property transfer, then the buyer can take legal actions against the grantor. Feel free to ask if you have further queries. Sussane
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Mon Sep 26, 2011 8:09 pm    Post subject: Like 0 Dislike 0 Hi patrick? In most cases you can buy out your lease, meaning that you would finish paying the amount owed on the lease. However most dealerships dogn't care enough to go through the paper work to get you to purchase the vehicle. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
Patrick in Doyline Guest	Posted: Tue Sep 27, 2011 9:34 am    Post subject: Lease and option to purchase in Louisiana Like 0 Dislike 0 Thank you for the replies. The first reply was from Alaska. I have been told that in Louisiana, the Grantor can take back the property any time he decides according to the statement I mentioned before that was at the bottom of the agreement. The person that is having the leased to purchase property taken away from him spent 100.00 for a consultation with a local attorney to confirm that there was no recourse, the property had to go back to the seller at his discretion. If there is anyone that is familiar with Louisiana law regarding this matter, I would appreciate any advice so I can contiue to help this person. thanks very much
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Tue Sep 27, 2011 7:24 pm    Post subject: Like 0 Dislike 0 Hi Patrick, As far as I know, the rules regarding property transfer is more or less similar in all the states. Unless the grantee transfers the property back to the grantor, he won't get back the property. Nevertheless, I will suggest you to directly contact a Louisiana based attorney and take his suggestions in this matter. _________________ Procrastination is the enemy of your financial success

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