Property Management
What is a lease option (lease with option to purchase)?
AA lease that automatically converts to a purchase
BA lease giving the tenant the right to purchase the property at a specified price within the lease term✓ Correct
CAn option to extend a lease
DA lease where the landlord can force sale
Explanation
A lease option combines a lease with an option to purchase. The tenant leases the property and has the right (but not obligation) to buy at a predetermined price within a specified period. Option consideration is typically non-refundable.
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