"Rent-to-Own" .
I have to recommend that you do not attempt this without the advice of an experienced attorney and/or real estate professional.
Lease option - "contract in which an owner leases her house (usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance"
Lease Purchase - "a Lease to Purchase contract combines a basic lease contract with an option to purchase contract, which creates a Lease to Purchase contract." The main difference being that the lease purchase contract, the Buyer is obligated to buy; if not, the buyer would likely be in breach
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