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English: Combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase on the home. It is a shortened name for Lease with Option to Purchase Contract.
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 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 ...
Learn several differences between a lease payoff amount vs. buyout price when leasing a vehicle and explore your alternatives in different leasing scenarios.
A lease buyout title transfer is a procedure you need to complete to own your leased vehicle. Learn more about the process to ensure everything goes smoothly.
Want to own your leased vehicle? Buy it. Figure out a lease buyout for your vehicle and calculate your payoff amount in four easy steps with this handy guide.