A type of delayed closing. The lease purchase contract sets the closing date and provides remedies to the seller if the buyer defaults. …
Lease to Purchase Option
Buying a piece of property by renting for a specified period, usually one year, with the provision that you will purchase the property at the end of that period for a predetermined sale price. …
Leasehold
The limited interest in a property held by a tenant; primarily the right to inhabit it for a specified period of time. At the end of the lease, the property reverts to the owner or landlord. …
Leasehold Estate
An arrangement in which the borrower does not own a specific piece of property but possesses a long-term lease. …
Leasehold Interest
Leasehold Interest, in real estate, refers to the right of a tenant to use and occupy a property for the duration of a lease agreement with the property owner. This interest does not confer ownership …
Legal Blemish
Blemishes on a piece of property, such as a zoning violation or fraudulent title claim. …