I’m not sure if the public can link to this, but below is the answer to the question, can a broker in Texas represent a client in a rent-to-own or lease-purchase agreement?
Here’s the answer:
My client wants to enter into a lease-purchase agreement with a prospective tenant. A former client’s attorney prepared a lease-purchase agreement similar to what my current client needs. Can I make changes to the agreement so it’s applicable to my client’s transaction? (updated July 28, 2014)
No. Under no circumstance should a real estate license holder attempt to prepare a lease-purchase agreement. Since there is no lease-purchase agreement form for license holders to use that complies with the Real Estate License Act requirements, an attorney must prepare the agreement.
Preparing your own document or changing a lease-purchase agreement prepared by an attorney for another transaction is a violation of the Real Estate License Act. Taking such action is the unauthorized practice of law. In addition, there’s a risk you could be sued by the parties if they have a disagreement over the lease-purchase agreement you prepared.
The requirements of the Texas Property Code provisions that apply to lease-purchase transactions are complicated, and your client shouldn’t enter into one without talking to a real estate attorney.
– See more at: https://www.texasrealestate.com/for-texas-realtors/legal-faqs/category/lease-purchase-agreements#sthash.rdAu7GTp.dpuf