Property Management
In Virginia, a lease with an 'option to purchase' is considered:
AIllegal
BA valid lease with a separate option agreement that allows the tenant to buy the property✓ Correct
CAn automatic sale agreement
DA violation of RESPA
Explanation
A lease with an option to purchase is a valid arrangement in Virginia. The lease and option are typically separate agreements. The tenant-optionee pays for the right to purchase at a set price within a set time.
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