All Topics / Legal & Accounting / Reducing your taxable / declarable income

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  • Profile photo of hbhb
    Member
    @hb
    Join Date: 2005
    Post Count: 179
    February 5, 2006 - 9:12 am

    hi terry
    sorry, i understand now….
    a residential tennant with a lease option to purchase the property
    logical….

    i think dazz was more interested in the concept of the tennant pay all outgoings, similar to a commercial lease…anyway

    what would happen if the tennant pull out of the deal…
    would they be intitled to any reinbursement, as they’ve been paying outgoings for the landlord?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 5, 2006 - 11:08 am

    Hi HB

    If they pulled out, they would not get any reimbursement. They are taking a risk by paying a bit more rent, but ending up (hopefully) buying the property below market rates.

    Incidently, I wouldn’t do this again.

    Terryw
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