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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.
The lease covered 25 miles (40 km) of Norfolk Southern track between the Von Willer yard (near E. 93rd Street and Harvard Avenue) in Cleveland and Aurora, Ohio. [ 9 ] [ 12 ] [ 13 ] In January 2011, the CCR signed an agreement with the Cleveland-Cuyahoga County Port Authority, which operates the Port of Cleveland, to run a new switching service ...
CAMBRIDGE − The Cambridge City School Board recently met in a special session to approve an oil and gas lease agreement between the district and EAP Ohio LLC. The five-year lease agreement began ...
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 ...
In order to rent or lease in many apartment buildings, a renter (also referred to as a “lessee") is often required to provide proof of renters insurance before signing the rental agreement. There is a special type of the homeowners insurance in the United States specifically for renters — HO-4 .
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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