What are my options for doing a lease-to-own agreement?
Lease-To-Own is a method of arranging for transfer of property ownership at a future time, often as a way to increase the likelihood of ownership when an immediate purchase or access to conventional financing is not an option. A lease-to-own strategy requires the use of specific legal transactions like option to purchase, right of first refusal, and land contract (Contract for Deed). When the buyer and seller use this strategy, both parties can determine various terms of timing, payments and other provisions to embed in these legal instruments that guide the relationship. For more information on lease-to-own and land access visit the Land for Good website and find the Lease-to-Own Strategies fact sheet.