Gaining possession for a period of time without buying!

**JosephE999** · 02-09-2010, 07:16 AM

Is there a way to possess a property for a specific period of time, without buying it? For example putting an offer on the property contingent upon selling yours and the one you are giving the offer for within a year?

I have a 1/2 acre land which is not enough for commercial use (too small). My neighbor is selling his. I am wondering if I can give an offer to him contingent upon selling both!

Is there a form I can use to do this?

Thanks.

**martin.schellenberg** · 02-09-2010, 08:33 AM

You can put a contingent offer on a property but won't own it unless you close on it meaning the purchase actually happens. As far as owning something without buying it, I can't imagine that exists. You can ask your neighbor to put it on hold for you ...

**JosephE999** · 02-10-2010, 12:07 AM

Originally Posted by martin.schellenberg

You can put a contingent offer on a property but won't own it unless you close on it meaning the purchase actually happens. As far as owning something without buying it, I can't imagine that exists. You can ask your neighbor to put it on hold for you ...

Thanks, I thought maybe there is a specific way to do this. I am sure also I can put a time limit in the contingency Claus.

I asked this because in a real state course I attended, around 15 years ago, someone was saying they did a similar thing. He locked the land, in a fast developing area, for six month and before six month was over a business wanted the land so bad that they gave him $60,000 to transfer the temporary possession to them! I was wondering if anyone knows what it was. Otherwise the contingency clause, as you said, will work as well. Or if the other owner will put it in hold for me!