Michigan Rent-to-Own (Lease Option) Agreement

A Michigan rent-to-own agreement establishes a real estate arrangement between a tenant and a landlord that allows the tenant to purchase the property. The lease will set out an option term during which the tenant must decide whether to proceed with the purchase. Other standard provisions include the cost of monthly rent and the option fee.

Michigan Rent-to-Own (Lease Option) Agreement

A Michigan rent-to-own agreement establishes a real estate arrangement between a tenant and a landlord that allows the tenant to purchase the property. The lease will set out an option term during which the tenant must decide whether to proceed with the purchase. Other standard provisions include the cost of monthly rent and the option fee.

Last updated February 10th, 2024

A Michigan rent-to-own agreement establishes a real estate arrangement between a tenant and a landlord that allows the tenant to purchase the property. The lease will set out an option term during which the tenant must decide whether to proceed with the purchase. Other standard provisions include the cost of monthly rent and the option fee.

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