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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 narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
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 ...
A lease option, also called a lease with an option to buy, consists of a lease agreement and an option agreement that gives you the right to buy the home at the end of the lease term. Here’s how ...
from Hindi and Urdu: An acknowledged leader in a field, from the Mughal rulers of India like Akbar and Shah Jahan, the builder of the Taj Mahal. Maharaja from Hindi and Sanskrit: A great king. Mantra from Hindi and Sanskrit: a word or phrase used in meditation. Masala from Urdu, to refer to flavoured spices of Indian origin.
A lease in which the renter benefits from an increase in value of the asset is known as a finance lease. A leasing agreement which is not a finance lease is known as an operating lease . In housing, when a tenant rents an apartment but only pays for their room and the common space is a lease-by-room arrangement.
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Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.