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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.
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 ...
Owner financing agreements can be structured in a number of ways, including as a second mortgage, a rent-to-own contract or a wraparound loan. Owner financing tends to benefit the seller more so ...
With a rent-to-own agreement, you lease a home with the intention of buying it at the end of a set... If you want to buy a home but can't qualify for a mortgage, renting to own might be a good ...
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
A lease contract clearly states the number of miles you can drive during your lease period. If you're over your mileage limits, you'll probably owe a fine when you return the car. ... Lease to Own ...
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