This Lease is meant to be used by one individual dealing with another individual rather than a dealership situation. It therefore does not contain disclosures required by the Federal Consumer Leasing Act.
Lease Agreement With Option To Purchase In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00400BG
Format:
Word;
Rich Text
Instant download
Description
An "Automobile Lease Agreement" is generally used to describe the formal contract or agreement that binds the leasing customer to the terms and conditions set forth by a leasing company or bank ("financier") . It is usually prepared or provided by the automobile dealership. This type of Automobile Lease is one the methods by which an automobile may be financed. It allows the customer to drive an automobile by making monthly payments to the financier. The payments serve to compensate the financier for the depreciation in value of the automobile during the time it is being driven. The financier will also assess a monthly finance charge that is similar to interest on a loan. This compensates the financier for the use of their money that is tied up in the purchase of the automobile from a dealer. The financier or car dealership actually owns the automobile. The automobile is leased for a specific period of time and is typically returned to the car dealership at the end of that time.
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A lease purchase agreement between a tenant and a landlord allows the renter the option to eventually buy the property. "A lease option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property at a specified price.Texas Rent-to-Own Lease Agreement. A Texas rent-to-own lease agreement is a standard rental contract with an added option-to-purchase clause for the tenant. Lease-purchases may provide that once a sufficient down payment is paid, the tenant-buyer will have an option to purchase the property at a certain price. Use the Lease Purchase Option to set forth all of the details of the transaction, including rent credits, purchase price, and time frame. This document lays out the terms of the rental agreement and the steps the tenant needs to take if they want to buy the rental unit. For more information on this innovative Lease with Right To Purchase program, please call or fill out the form below. Purchase agreement is a standard lease with an added option for the tenant to purchase the property. Filling out this document requires attention to specific details.