If I get into a lease purchase situation, put a non refundable earnest money deposit
Down and the owner of the home either files bankruptcy or is foreclosed upon before I close and take possession of the home, what would happen to my lease purchase
Situation?

Hello j:

It would become null and void, and you'll probably have to sue to get your earnest money back.

excon

Quote:

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Originally Posted by excon

Hello j:

It would become null and void, and you'll probably have to sue to get your earnest money back.

excon

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That depends on whether the option is recorded. If so, you may be protected in bankruptcy.

And you can't sue if the landord files bankruptcy. You could only file a claim in the bankruptcy proceeding.