The Connecticut lease to own agreement combines an arrangement to rent a home with a permitted first right of refusal when the lease period ends. This type of lase is typically offered to tenants that show interest in buying a home but are not in a position to purchase initially. The transcript records the names of both lessor and lessee, the property address, rental rate, term of the lease, and other conditions and clauses meant to meet the needs of both parties involved in the transaction on an individual basis.
The document allows for the parties to stipulate an agreed-upon price for the option itself, as well as the purchase price for the home, once the lease expires. This lease agreement formats two singular forms into one easy to use contract. Make sure to reach an understanding during the negotiation stage to appropriately fill and commit to the clauses contained in the document. Once both lessor and lessee affix their signatures to the paperwork, it is then viewed as a binding legal instrument.