Contracts
A lease with an option to purchase in Nevada requires the tenant to:
APurchase the property at the end of the lease
BLease the property for a fixed term with a separate right to purchase within a specified period✓ Correct
CProvide a down payment equal to 10% of the option price
DObtain financing approval before signing the lease
Explanation
A lease-option combines a lease agreement with a separate option to purchase. The tenant has the right (not the obligation) to buy the property at a set price during or at the end of the lease term.
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