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A lease option is a type of real estate contract that gives renters the option to buy their rental when their lease is up. The property's owner forfeits the ability to sell the property to anyone else during the lease term, and in exchange, the renter pays an upfront option fee and often a higher monthly payment.
A Missouri rent-to-own lease agreement is a document that rents property to a qualified tenant and gives an option to buy. The landlord will commonly screen the tenant and require proof of funds to purchase the property.
Leasing options are a popular way for homeowners to secure a potential buyer without having to put the property on the market. After paying an upfront fee, the tenant gains the right to buy the home at the end of their tenancy, often for a preferential price.
A complete version of the law that governs underground storage tanks (USTs) is available in the U.S. Code, Title 42, Chapter 82, Subchapter IX .
A Missouri rent-to-own lease agreement is a document that rents property to a qualified tenant and gives an option to buy. The landlord will commonly screen the tenant and require proof of funds to purchase the property.
The difference between a lease option and a lease purchase agreement is that the lease option only obligates the seller to sell. A lease purchase agreement commits both parties to the sale barring breach of contract or the buyer's inability to secure a mortgage.