Contracts
In South Dakota, a 'lease option' agreement gives the tenant/optionee the right to:
ASublease the property to another tenant
BPurchase the property at a predetermined price during a specified period✓ Correct
CReceive a return on their rent payments at the end of the lease
DConvert their lease to month-to-month at any time
Explanation
A lease option (lease-purchase option) combines a lease with an option to purchase. The tenant pays option consideration and has the right, but not the obligation, to purchase the property at a specified price during a specified period.
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