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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.
IFM Investors on March 11, 2015, announced that it had entered into a $5.725 billion agreement for the right to operate the Indiana Toll Road and collect toll revenue. [3] On May 27, 2015, IFM announced it had reached financial close on its acquisition of ITRCC, and thus inherited the remaining 66 years of the concession lease agreement.
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English: Combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase on the home. It is a shortened name for Lease with Option to Purchase Contract.
The creditor's rights against the debtor and the lessor's rights against the lessee are based on the credit documents and the lease, respectively, and not the financing statement. Pursuant to the standards set forth in the UCC, at 9-503 and 9–504, the financing statement need only contain three pieces of information: the debtor's name and address
In order to rent or lease in many apartment buildings, a renter (also referred to as a “lessee") is often required to provide proof of renters insurance before signing the rental agreement. There is a special type of the homeowners insurance in the United States specifically for renters — HO-4.
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