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Lease Purchase |
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What is the Difference between Lease Purchase and Rent to own? |
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No difference -- both refer to an agreement that the buyer will move in as a tenant and complete the purchase at some time in the future. Such arrangements are also referred to as Land Contracts. If the potential buyer will have a choice about going through with the eventual purchase, the agreement is for a Lease-Option. Every situation is different, and the contracts involved should be drawn up by real estate lawyers for each party. |
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Edith
Originally published on February 28, 2008 |
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