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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.
Granot Loma is an estate located on County Road 550 north of Marquette, Michigan, built in the tradition of the Great Camps of the Adirondacks [2] in the late 19th and early 20th centuries. It was listed on the National Register of Historic Places in 1991. [ 1 ]
This model is also used in the residential space, but mostly for small units in high-demand locations. Here, the company signs a rental agreement with the owner and pays them a fixed rent. As per the agreement, the company is given the right to sublet the property for a higher rent. The company's income is the difference between the two rents.
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An oral lease for a tenancy of years that violates the statute of frauds (by committing to a lease of more than—depending on the jurisdiction—one year without being in writing) may create a periodic tenancy, the construed term being dependent on the laws of the jurisdiction where the leased premises are located. In many jurisdictions the ...
The eviction followed an inability to come to terms with the new owner on a new lease. [9] Michigan Brewing Company was slated to open a small brewery, restaurant and pub to a renovated Old Firehouse (Fenton, Michigan) in Fenton which was going to be leased/bought ($1 per year for seven years, plus taxes, then a $1.00 purchase) from the City ...
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