Lease Purchase Agreement

Although most leases are used only for temporary possession of property, a lease purchase agreement transforms the lease, allowing for an option to buy at the leases' end. To enlist in a lease purchase agreement, the lessor and lessee will sign a contract that, in exchange for a security deposit, the lessee will receive an option of buying the property. Some of the deposit may be considered a contribution to paying for the property. If the lessee opts out of purchase, it is treated as if it was a regular lease. By leasing though a lease purchase agreement, there are both advantages and disadvantages for the tenant. Although buying through a lease purchase agreement can make up for a lack of financing, unforeseen circumstances can mess up the agreement before ownership has transferred.

Fast Facts

  • The typical contract is for 12 to 36 months
  • lease purchase agreements are now an option at online real estate websites

lease purchase agreement - Lawyers, Articles and Q&A

Talk to a Landlord and/or Tenant Lawyer
Enter Your Zip Code to Connect with a Lawyer Serving Your Area
searchbox small
Related Ads
Search Results for "lease purchase agreement"

Articles

Results 1-5 of 57 for "lease purchase agreement"

  • Can I Sell My House with a Lease/Purchase if I Have a Mortgage?

    Many sellers want to know “Can I sell my house with a lease purchase”.  The short answer to that question is “...
    • Site: realestatelawyers.com
    • 1 of 1 user(s) found this useful
  • Reviewing Aircraft Purchase Agreements

    Purchasing an aircraft, either in full or as part of an ownership share, can be an extremely complex transacti...
    • Site: aviationattorneys.com
    • 3 of 4 user(s) found this useful
  • Lease Option to Buy Agreements

    Due to the decline of the real estate market and the tightening of mortgage loan requirements, rent to own agr...
    • Site: realestatelawyers.com
    • 6 of 11 user(s) found this useful
  • Lease Deeds

    A lease deed is a document under which the Landlord and Tenant set forth an agreement that outlines guidelines...
    • Site: realestatelawyers.com
    • 3 of 5 user(s) found this useful
  • What Happens to a Car Lease in Chapter 7 Bankruptcy?

    If you are leasing a car, truck, van, or other motor vehicle when you file for Chapter 7 bankruptcy, you hav...
    • Site: nolo.com

Q&A

Results 1-5 of 5 for "lease purchase agreement"

LA-WS4:0.9.17.120208.12696+