Contracts
In South Carolina, what is a 'lease-purchase agreement'?
AA standard residential lease
BAn agreement where the tenant leases the property with an option or obligation to purchase it✓ Correct
CA purchase agreement contingent on obtaining a lease
DA commercial lease with a purchase price adjustment clause
Explanation
A lease-purchase (rent-to-own) agreement combines a lease with an obligation or option to purchase. Part of the monthly payment may apply to the purchase price.
Related South Carolina Contracts Questions
- In South Carolina, which type of listing agreement is considered the least desirable for a seller's broker because the broker may receive no commission?
- Under South Carolina law, a minor (under 18) who signs a real estate contract has the right to:
- In South Carolina, an offer to purchase real estate becomes a binding contract when:
- What is the legal effect of an addendum to a South Carolina real estate contract?
- In South Carolina, an offer becomes a binding contract when:
- Under South Carolina law, a contract for the sale of real property must include a legal description of the property to be:
- What does 'assignment' of a South Carolina real estate contract mean?
- A South Carolina purchase contract that includes the phrase 'subject to satisfactory inspection' means:
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →