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Renting from parents with option to purchase

26 November 2019 by YourProperty

I would like to know what it will entail if I and my husband rent a property from my parents, with an option to purchase when we can afford to do so.

The outstanding bond is fairly substantial and my father wishes to retire soon. The bulk of his pension would be consumed in settling the outstanding bond.

The property includes a small apartment attached to the main dwelling where my parents can continue to live.

This will allow them to use their retirement savings for living expenses rather than for paying off bond instalments.

Thank you,

Sharing Family Property

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Filed Under: English Tagged With: bonds, lease, property, Retirement, tenant

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