legal docus for rent-to-own condo

[switblububbles]

Hi there...

I hope someone could give an advice regarding my concern.

We have a friend that offers their unused condo for a really good payment term.

We will be paying it on a rent-to-own basis. They say even lifetime. They didnt mention any amount that they will require us to give.

I havent talk to them seriously about this like downpayment etc. We havent seen the condo yet but they say it was never used from the start but the unit is already named after them.

This really sounds too good to be true...but this couple is a long time friend of my hubby.

What are the papers I need that will legalize the rent to own basis?

What if we are still paying it and their relatives/fam will claim it?

Thanks in advance.

[Princess_Chill]

Hi sis

my hubby is in the real estate industry and he's selling condo units din...I know a little regarding the docs but iba din kasi sitwasyon mo...

if I may suggest you need to make everything documented. contract to sell and siyempre may terms di kasi pupwede iyong kahit na lifetime ganoon? kasi luge kayo pareho doon why?

kasi matagal bago niya makuha iyong payment for their property then what if naman while you are paying the "rent-to-own" set up bigla magbago isip nila e since hindi pa naman kayo fully paid hindi pa nakapangalan sa inyo iyong title noon sa luge din kayo...

eventhough their a very good friend it is better if both parties are protected

[switblububbles]

^Hi sis. Thanks for sharing.

Anghirap kase pag friend talaga eh hindi mo masabi na kailngan may ganitong papel ganyan.

Kase ang plan sana namin for now rental talaga muna. Pero pag meron kameng extra magbibigay na kame para mabilis mabayaran.

Also sis, ang condo ba talaga ilang years lang staying limit? 50 ba?

Pano ang bilang nung 50 yrs? upon stay?

Thanks sis!

[bomfalleralla]

Question, paano nga start ng bilang sa 50 yrs for condo's life?