Common Contracts
1 similar Lease Purchase Agreement contracts
Lease purchase agreement templateLease Purchase Agreement • August 2nd, 2021
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(s) can purchase the property if they so choose. In a simpler way, the form can be thought of as 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: An agreement between an owner and a lessee (tenant) that allows for the option of purchasing a leased property when the rental period expires. A rent-to-own agreement is a form that combines leasing and selling into one, allowing a homeowner to rent their property to those that would be interested in buying at a later date. This type of agreement is popular among renters that want to become homeowners but cannot due to inadequate savings or an inability to obtain a loan due to a poor credit score. With the contract, the owner will commonly keep a portion of the
