Lease Option Terminolgy - Learn About Lease Options

Although geared towards the commercial leasing market, this is a very handy article to help you understand the terms associated with leases and lease options.

The meaning of it all

Staying on top of the real estate terms

Do the mere words "triple net lease" make you sweat? Eyes glaze over each time you confront your office space issues? Then consult our handy guide to common commercial real estate terms:...

...

Lease option: A lease in which the lessee (tenant) has the right to purchase real property under certain conditions such as a stipulated price or within a stipulated time frame either during or at the end of the lease term.

Lease-purchase: An option sometimes used by sellers to rent a property to a consumer, who has the option to buy the property within a specified period of time. Typically, part of each rental payment is put aside for the purpose of accumulating funds to pay the down payment and closing costs...