Contracts
What is a 'seller leaseback' agreement in Delaware and when is it used?
AA lease the seller holds on another property they own
BAn agreement where the seller, after closing, leases the sold property back from the new owner for a defined period — used when sellers need more time to relocate or when corporate sellers prefer to lease-back rather than own✓ Correct
CA lease agreement the seller signed before listing the property
DA Delaware arrangement where the tenant purchases their rented home
Explanation
A seller leaseback allows the seller to remain in the property as a tenant after closing for an agreed period (days to months). Terms include: rent amount, duration, security deposit, and responsibilities for damage.
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