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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 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 ...
The Aaron's Company, Inc. is an American lease-to-own retailer. The company focuses on leases and retail sales of furniture , electronics , appliances , and computers. The company sells through the company-operated and franchised stores, e-commerce platform (Aarons.com) [ 2 ] [ 3 ]
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