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A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
The real estate rented may be all or part of almost any real estate, such as an apartment, house, building, business office(s) or suite, land, farm, or merely an inside or outside space to park a vehicle, or store things all under real estate law. The tenancy agreement for real estate is often called a lease, and usually involves specific ...
Lease purchase agreement (click to view pages) Rent-to-own, also known as rental purchase or rent-to-buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, engagement rings, and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during ...
Merger and acquisition agreements, [1] joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent. The capitalized form Letter of Intent may be used in legal writing, but only when referring to a specific document under discussion.
The use of a Good Guy Clause allows a renter to be released from liability of the lease if a rental is terminated early, giving tenants less apprehension regarding signing a time bound lease, and satisfying the landlord's worries about reclaiming their space "in the same condition in which they would have been had the lease expired in ...
A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
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