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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.
On January 31, 2019, Brandywine announced that Google would lease the entire building, [8] and the Austin-American Statesman released the first renderings the same day. [ 9 ] In December 2024 Cousins Properties announced that they would be acquiring Block 185 for $521.8 million, the largest purchase of an office property in Austin in 2024.
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As may be the case with other contracts, real estate contracts may be formed by one party making an offer and another party accepting the offer. To be enforceable, the offers and acceptances must be in writing (Statute of Frauds, Common Law)and signed by the parties agreeing to the contract.
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