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Updated about 17 years ago on . Most recent reply

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Doug Norrie
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Lease to own contract question

Doug Norrie
Posted

I have an offer from a possible tenant to rent then buy the property after a year. My question is if there is a standard blank legal form out there to execute this transaction. My office does not have one and neither does my realtor association. I have access to blank fillable contracts or blank fillable leases, but not lease to purchase. Note: it is not a lease option.

Could I use a standard purchase contract and a standard lease together to perform the same function? The purchase contract would outline the details of the downpayment (x dollars a month toward downpayment) and the closing date, etc. While the rental lease could outline the terms of the rental period. Thanks for any advice.

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