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Rent-to-own, also known as rental-purchase or Rent-To-Buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, real property, and engagement rings, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement. A rent-to-own transaction differs from a traditional lease, in that the lessee can purchase the leased item at any time during the agree
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A lease purchase is a written agreement between a landlord and tenant giving the tenant an option to purchase the property at some future point in time. The nature of this type of real estate transaction can vary a great deal because virtually all the terms of a lease purchase are negotiable. For example, they may or may not include a set price.
At the end of the minimum term, leasing customer can: (1) continue to lease by making periodic payments in accordance with the terms of your lease agreement; (2) exercise a purchase option per the terms of the lease agreement (not available in NJ, VT, WI, & WV); or (3) return leased items to TEMPOE.
At the end of the minimum term, leasing customer can: (1) continue to lease by making periodic payments in accordance with the terms of your lease agreement; (2) exercise a purchase option per the terms of the lease agreement (not available in NJ, VT, WI, & WV); or (3) return leased items to TEMPOE®.
(We usually use the term "Lease.") Under your Lease, you can: (a) make 52 weekly payments or exercise an Early Purchase Option to acquire Ownership of the rented goods or (b) rent the goods for at least the initial term and then end the lease when you want by making all required payments and returning the goods.
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· Lease to Own Terms. Most lease to own contracts include a similar set of terms. The first one being that you don’t need good credit to get started, which is a great benefit to anyone with low or no credit history. You likely won’t need any money as a down payment either, other.
A Lease-Purchase Contract, also known as a Lease Purchase Agreement, is the heart of rent-to-own properties.It 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.
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