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Lease purchase contract
From Wikipedia, the free encyclopedia
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods[1] or rent-to-own real estate[2] without entering into a standard credit contract.[1] It is a shortened name for a lease with option to purchase contract. For real estate, a lease purchase contract combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase of the home.[3]
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