Scheme: Lease-Buyback

Lease-Buyback Schemes
A Classic and Widespread Scheme

A lease-buyback scheme starts with an offer where the owner can turn the lease over to another, with an option to buy it back later. The owner is promised to be able to rent the property back, which will be counted toward an eventual buyback. These will almost certainly end in the loss of the property, or considerable additional cost – The rental prices maybe made so high that the original owner cannot afford to continue paying and/or the buyback price maybe set far above the fair market value of the property.

TOM’S COMMENTARY:

We have seen many examples of this scheme around Florida. Thanks to the tough Florida law, the perteptrators (at least so far) have always agreed to sign a deed immediately returning title to the homeowner, in order to avoid being reported to the States Attorney. That does not mean that the simple act of signing the deed to the scammer in the first place doesn’t complicate the task of helping the homeower.

Please, PLEASE, contact a licensed real estate attorney before deeding your home to anyone (including the BANK)! You have rights, and your chances of retaining your home (if you simply defend) are much better than you may imagine.

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