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Lease Purchase

A contract between a tenant and an owner by which part of the monthly rent payments may go toward down payment on the property. When pre-determined sufficient funds are received by the seller, the buyer may seek a first mortgage through a typical lender or in some cases with the seller.

See also:
  • Landlord
  • Late Charge
  • Lead Based Paint
  • Lease
  • Lease Purchase
  • Lease purchase option
  • Legal Description
  • Lessee
  • Lessor
  • Lien
  • Lifetime Cap
  • Listing Agent
  • Listing Agreement
  • Listing Broker
  • Listing Contract
  • Listing/Listing Agreement
  • Loan Application
  • Loan commitment
  • Loan Commitment
  • Loan Origination
  • Loan Originator
  • Loan to Value
  • Lock In

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  • Real Estate Glossary
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