Lease Option Lawyers

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What is a Lease Option?

A lease option is a property lease for a fixed period of time, often 12 to 24 months, with an option for the tenant to purchase the property during the lease period.  A portion of the rent is applied to the future down payment if the option is exercised.  The purchase price of the property should be specified when signing the lease option.  A lease option differs from a lease purchase because a lease purchase requires the tenant to purchase the property.

Can a Lease Option Be Transferred or Sold to Another Person?

The lease option agreement usually restricts the right to transfer or sell the lease option to another person.  Read the lease option agreement carefully to see if there are any restrictions.  The ability to transfer or sell the lease option can also be negotiated before signing the lease option.

What are the Benefits of a Lease Option?

A lease option agreement has benefits for both the buyer and seller: 

Do I Need a Lawyer if I Want to Enter into a Lease Option?

A lease option can be very complicated.  An experienced real estate attorney can guide you through the process of buying or selling your home and can help you negotiate favorable terms in the lease option agreement.

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Last Modified: 03-07-2011 04:05 PM PST

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