Contracts
A North Dakota commercial lease that provides the tenant the option to purchase the property at a future date is called a:
ARight of first refusal
BLease with option to purchase✓ Correct
CInstallment land contract
DNet lease with purchase clause
Explanation
A lease with an option to purchase gives the tenant the right (but not obligation) to buy the property at a specified price within a specified period. Rent paid may or may not be credited toward the purchase price.
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