Viles Law Firm

You can sell your residence to protect its equity; however, you may wish to continue living in the property. We can assist you with the sale and leaseback of your residence to a friendly third-party using a deferred installment note. The process involves selling your residence to a friendly party and retaining a promissory note. You then lease the property from your friendly third party buyer and continue to remain in the house. You now own only a promissory note rather than the underlying property. This transaction works only as long as the sale and lease back are legitimate and at arm’s length. As with the sale and rental of any property, income taxes consequences must be taken in to consideration.




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Call us now at (713) 622-4647