Long Term Lease With Option To Buy In King
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An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option.
For example, a tenant and landlord may agree to a five-year lease with a five-year option to renew. At the end of the first five years, the tenant is given the chance to continue the lease for another five years. If you think you may renew, be sure to bring up extension provisions with your landlord.
Related Definitions Annual Lease Payments means, for each 12-month period ending on August 1, the total Lease Payments due in such period.
Leased or rent-to-own furniture is an agreement that allows you to acquire furniture by making periodic payments over time instead of footing the entire bill upfront.
Generally 48 months is the ``sweet spot'' for leasing, but if you want a newer car - sooner - then go for the 36 month lease instead.
Definition of "Assignment of Lease" The Assignment of Lease is a title document (also referring to the process itself) whereby all rights that a lessee or tenant possesses over a property are transferred to another party.
