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Opt-out clause in British English (02c80252pt02cca028at kl025402d0z) noun. a clause that permits signatories to a contract to opt out of particular provisions, or to terminate the contract early.

On the other hand, a landlord can also make a lease buy out if s/he wants to replace the existing tenant with a new tenant who will pay him/her a higher rent.In such cases the landlord will have to pay the tenant an agreed amount to extinguish the lease.

Lease Termination Clause In general words, the landlord releases the tenants from any future obligations, and the tenants surrender the premises. Keep in mind that the landlord may still be able to charge an extra rent amount or fee for early termination.

Leasing a car with the opportunity to buy it later can be a good way to get a new car for a low up-front investment and lower initial monthly payments. When you lease, you're getting a brand new car, with affordable payments and warranty coverage, with the option to buy it out at the end.

If you're moving every few years or you're in a super expensive market (like San Francisco), renting is probably the cheaper option. But if you're going to stay put for the long haul, you'll likely make out better buyingespecially when you pay off your home.

What is a lease-option-to-buy? 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. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment.

In a lease option, the buyer (the property renter) pays the seller (the property owner) option money for the right to purchase the property later.The buyer also agrees to lease the property from the seller for a predetermined rental amount during the term of the lease option agreement.

A lease addendum is a legally binding document that both landlords and tenants agree to and sign (i.e., you can't add it to the lease without the tenant's knowledge!). Addendums modify the original lease agreement and/or provide additional information related to specific rental policies.

A lease-option-to-buy arrangement can be a solution for some potential homebuyers, but it's not right for everyone. If you're not certain that you're going to be able to purchase the rental home at the end of the lease period, you might be better served with a standard rental agreement.

The term of the option may be any period on which the property owner and renter agree, but is commonly one to three years. The lease option contract also stipulates the property's purchase price at the start of the lease or how that price will be determined at the end of the option.