lease option: Lease Option
- 05/13/08 07:01 PM
Lease with option to purchase, in short, is termed as lease option or lease purchase. For residential real estate, it is a contract between the lessee and the lessor. During the term of the contract, the lessee or the tenant has to pay rent to the lessor or the landlord, so that the lessee would be able to live or use the residential property as his or her home. After the term of the contract, the tenant or the lessee has the option to buy the residential property from the landlord or the lessor. Usually, those who wanted to to have … (4 comments)
Lease with option to purchase, in short, is termed as lease option or lease purchase. For residential real estate, it is a contract between the lessee and the lessor. During the term of the contract, the lessee or the tenant has to pay rent to the lessor or the landlord, so that the lessee would be able to live or use the residential property as his or her home. After the term of the contract, the tenant or the lessee has the option to buy the residential property from the landlord or the lessor. Usually, those who wanted to to have … (4 comments)
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