Contracts
What is a lease-purchase agreement in Nevada?
AA standard 12-month lease with no option to buy
BA lease that requires the tenant to purchase the property at the end of the lease term, with rent credits often applied to the purchase✓ Correct
CA commercial lease for office space in Nevada
DA lease that converts automatically to a month-to-month tenancy
Explanation
A lease-purchase (lease-to-own) agreement combines a lease with a commitment to purchase. The tenant is obligated to buy the property at the end of the lease term. A portion of rent may be credited toward the purchase price. It differs from a lease-option where the purchase is optional.
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