Common Contracts
1 similar Lease With Option to Purchase contracts
Lease to purchase option agreement pdfLease With Option to Purchase • May 1st, 2023
A rent-to-own agreement is a contract that allows a homeowner to lease out their property as normal with the added condition that the tenant can purchase the property at the end of the set term. In other words, the form is essentially a residential lease agreement combined with a purchase agreement. Also known as a: “Lease with an option to purchase agreement” “Lease-option” “Lease-purchase” “Lease-to-own” By State Definition: A lease between a landlord and tenant that allows the option to purchase the leased property in accordance with the agreement. A rent-to-own agreement is a form that combines leasing and selling into one. The landlord rents their property to a tenant, giving them the option to buy under pre-negotiated terms. This type of agreement is popular among renters that want to become homeowners but cannot due to inadequate savings or the inability to obtain a loan. The owner will typically keep a portion of the monthly rent (known as the “rent premium”) and deposit it int
