Simple Rent to Own Contract
Download this exemple Rent to Own Contract in doc format.
Extract :
Whereas, ___________________ (hereafter
Renter) desires to possess and have the use of certain property owned by
____________________ (hereafter Owner) and described in Attachment A, and
Whereas, the parties have agreed that
Renter shall take possession of the property on MM/DD/YYY and have the use of the property until this agreement is
terminated, and
Whereas, Renter and Owner intend that
ownership of the property shall transfer to Renter upon the full completion of
this agreement,
Now, therefore, the parties agree as
follows:
Renter shall pay Owner the sum of $X on MM/DD/YYYY and the same sum on the Nth day of each month for rental of the property.
If payment is late by more than three
days, a late fee of $X shall be due
immediately from Renter.
The parties agree that the purchase
price of the property is $X.
The parties agree that $X of each month’s rent payment shall
be applied towards purchase of the property.
The parties agree that ownership of the
property shall transfer to Renter upon Renter’s completion of X payments as described above.
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