lease option
- An agreed feature in a lease or contract allowing a tenant to purchase the rented property, be it real estate or personal property, at the end of the rental period at a predetermined price
- The young couple took the residence on a lease option, with plans to eventually buy the house.
- She used a lease option agreement to slowly work towards owning the car she was driving.
- Using a lease option, he was able to secure business equipment without a significant upfront expense.
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