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An employer may "buy out" an employee's contract by making a single prepayment, so as to have no ongoing obligation to employ the person; A landlord may buy out the remainder of a tenant's lease, effectively paying them to vacate. A government may buy out homes in a floodplain or other area subject to hazard.
Buy it. Figure out a lease buyout for your vehicle and calculate your payoff amount in four easy steps with this handy guide. How to figure out a lease buyout in 4 easy steps
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 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 ...
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The option gives the tenant the right (but not the obligation) to purchase the property at a later date. The lease option only binds the seller to sell, it does not bind the buyer to buy. That makes it a "unilateral" or one-way agreement. In contrast, a lease-purchase is a bilateral, or two-way, agreement. The basic elements of a lease-option ...
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