Life Lease Agreement With Option To Purchase
Description
How to fill out Tenant's Intent To Accept Lifetime Lease?
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FAQ
A Lifetime Lease is an agreement applied to the purchase of a new home. It's a legally binding agreement which secures a person's right to live in the purchased property with no rent, mortgage or interest repayments for their lifetime.
You can protect and safeguard up to 50% of the property's future value under the Home for Life Plan, giving you the option to guarantee an inheritance for loved ones. When you pass away or move permanently into long-term care, the plan will end, and the property will be sold.
A Lifetime Lease is an agreement applied to the purchase of a new home. It's a legally binding agreement which secures a person's right to live in the purchased property with no rent, mortgage or interest repayments for their lifetime.
Lifetime leases are essentially legally binding agreements that let a person (or people) live in a property mortgage-free and rent-free for the rest of their lives. The lifetime lease firm will buy the home on your behalf, and then sell you a lease for the remainder of your life.
A Purchase Lease Option is a legal mechanism that allows someone to control a property and produce income from it, with the right to purchase the property at a later date, but not the obligation to do so.
