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What is a lease option?
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17th Nov 2009 by Tom Lindmark
A lease option is typically a lease, usually on real estate, with an option to buy the property under some contractual set circumstances. Some or all of the lease payments may be credited towards the purchase price, although in that case, the lease payments are usually at a premium to fair market rents. The construction of a lease payment contract is complex and whether its benefit is strictly dependent upon the terms of that contract. Before entering into a lease purchase contract it is highly recommended that the services of an attorney as well as a professional who can determine the economic viabilty of the proposed contract be retained.
A lease option is typically a lease, usually on real estate, with an option to buy the property under some contractual set circumstances. Some or all of the lease payments may be credited towards the purchase price, although in that case, the lease payments are usually at a premium to fair market rents. The construction of a lease payment contract is complex and whether its benefit is strictly dependent upon the terms of that contract. Before entering into a lease purchase contract it is highly recommended that the services of an attorney as well as a professional who can determine the economic viabilty of the proposed contract be retained.
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17th Nov 2009 In Leasing
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Subjects: lease option,