Contracts
A 'lease with option to purchase' allows the tenant to:
APurchase the property immediately without any additional action
BLease the property now and optionally purchase it later at a price established in the agreement✓ Correct
CReceive credit for all rent payments toward the purchase
DEvict the owner if they exercise the option
Explanation
A lease with option to purchase combines a lease agreement with an option giving the tenant the right (but not obligation) to purchase the property at a specified price during or at the end of the lease term.
Related Georgia Contracts Questions
- A counteroffer in Georgia real estate constitutes:
- A 'right of first refusal' in a lease allows the tenant to:
- Under a Georgia purchase contract, earnest money is typically held by the:
- A real estate contract that is 'void' means:
- When a seller in Georgia dies after a purchase contract is executed but before closing, the contract typically:
- In Georgia, the Statute of Frauds requires that real estate contracts be:
- A homebuilder's standard contract for the purchase of a new construction home typically:
- If a seller defaults on a GAR Purchase and Sale Agreement, the buyer may:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →