Option Lease Own Purchase Form
Category:
State:
Multi-State
Control #:
US-OG-234
Format:
Word;
Rich Text
Instant download
Description
This form is used when Seller owns certain seismic data from the Lands and a Buyer desires to acquire the right to examine, process, or reprocess the Data and to acquire an option to purchase the Lease.
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Option money is nonrefundable. "Lease to own can be a beneficial method for buying and selling real estate.A leaseoption is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property. What happens when the contract ends depends partly on which type of agreement you signed. A renttoown home or "lease option" is a contract that includes both a rental and a purchase agreement. THIS AGREEMENT MADE and entered into on this _____ day of. ,. In a typical lease-purchase (or "rent to own "), a portion of each monthly rent payment is set aside and credited toward the tenant-buyer's down payment. The lease option only binds the seller to sell, it does not bind the buyer to buy. That makes it a "unilateral" or one-way agreement. A lease with an option to purchase, also known as a "lease option," is a common real estate arrangement.