Contracts
An Indiana lease with an option to purchase (lease-option) gives the tenant:
AThe obligation to purchase at the end of the lease
BThe right — but not the obligation — to purchase the property at a predetermined price during or at the end of the lease term✓ Correct
CThe right to sublease the property
DAutomatic ownership after 3 years
Explanation
A lease-option gives the tenant the option (right without obligation) to purchase the leased property at an agreed price. A portion of rent may apply toward the purchase price as credit.
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