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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.
The tenancy agreement for real estate is often called a lease, and usually involves specific property rights in real property, as opposed to chattels. In addition to the basics of a rental (who, what, when, how much), a real estate rental may go into much more detail on these and other issues.
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
On April 23, a judge granted preliminary approval to a $418 million antitrust settlement with the National Association of Realtors that ends customary real estate broker commissions of up to 6% of ...
Waco (/ ˈ w eɪ k oʊ / WAY-koh) is a city in and the county seat of McLennan County, Texas, United States. [8] It is situated along the Brazos River and I-35, halfway between Dallas and Austin. The city had a U.S. census estimated 2023 population of 144,816, making it the 24th-most populous city in the state.
A lease is a legal contract, and thus enforceable by all parties under the contract law of the applicable jurisdiction.. In the United States, since it also represents a conveyance of possessory rights to real estate, it is a hybrid sort of contract that involves qualities of a deed.
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