Real estate

Asked over 2 years ago - Miami, FL

I have a question about an apartment I leased for 12 years. I paid more in lease payments than what it was purchased for though not today's worth though close to it. I had just a regular lease agreement with no buy-out option. What are my rights?

Attorney answers (3)

  1. Dennis Andrew Chen

    Pro

    Contributor Level 17

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    Answered . Paying rent does not give you any ownership rights or a right to purchase the unit. You do not get any type of credit for your rent payments unless there was a purchase option or other contractual arrangement. A regular lease just gives you a place to live as long as you pay the rent.

    No attorney-client relationship is created by answering questions in this public forum. If you wish to create an... more
  2. Jeff Tomberg

    Contributor Level 14

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    Answered . other than trying to negotiate a lower price by applying rent payments and the good graces of the landlord without some document in writing allowing you to apply payments to a purchase price i dont believe you really have any rights.you paid for the privelege to live there and you received what you bargained for.

    without a detailed review by a lawyer can all the issues raised in your question be appropriately addressed...... more
  3. Carol Lynne Zimmerly

    Pro

    Contributor Level 18

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    Answered . You have no ownership rights to the property.
    You can live out your current lease and then move if
    you believe the rent amount is not fair.

    You can discuss building in a purchase option in the
    future.

    Good luck.

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