The initial term of the Lease is generally between one and four years, and the Lease automatically renews every year as long as the Tenant/Buyer is in compliance with the Lease. Each year, the Tenant/Buyer has the right to give notice that he/she does not want to renew the Lease for another term.
The Tenant/Buyer financial commitment is limited to the initial term of the Lease. The Tenant/Buyer does not have to renew the Lease after the initial term.
Over the life of the Lease, subject to applicable laws, Lease2OwnAmerica™ expects Tenant/Buyers to treat the home as their own, maintain the lawn and garden, remove snow or debris, and complete minor repairs.
Option to Purchase Real Estate Agreement
The Option to Purchase Agreement is typically 48 months.
The Option to Purchase Agreement gives the Tenant/Buyer the right to purchase the home from Lease2OwnAmerica™ at the pre-defined price as long as the Tenant/Buyer is in compliance with the Option to Purchase Agreement.
Prospective Tenant/Buyers will have an opportunity to review all documentation, and Lease2OwnAmerica™ encourages all prospective Tenant/Buyers to consult with legal and tax advisors to review such documents and the transaction prior to signing any documents.