Lease With Option To Purchase
Definition of "Lease with option to purchase"
Provision in a lease agreement in which the lessee is given the right to buy the property at the end of lease term. In many cases, the option price is attractive to encourage acquisition. For example, a tenant may enter into a five-year lease or an apartment with the option to buy it when the lease expires for a predetermined price.
Popular Real Estate Terms
Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...
property that has been segregated into parts. ...
Person who dies leaving a will specifying the distribution of the estate. ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Individually owned lots and houses with community ownership of common areas. ...
Tenant breaks the lease because the landlord does not keep the premises habitable. ...
The right to demand that title be conveyed upon payment of the purchase price. ...
Same as term junior mortgage: Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous ...
See savings and loan association. ...
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