Updated on December 16th, 2020
The Georgia lease to own agreement sanctions the leasing of a residential home or apartment for a predetermined period and monthly payment via a written standardized. The contract for real estate rental also puts forth an extended right of the first refusal to purchase the home at the termination of the leasing period. With the option to buy comes space to allocate terms to the offer as well as time and date to accept or decline before option expiration. It is determined within the language of the contract the percentage of total rental payments that will go toward purchase, should te landlord elect to utilize the provision. The lease to purchase agreement has the opportunity to benefit both parties in cases where both individuals are motivated with the same goal for an exchange at the end of the lease. Commissioning the help of a public notary will add additional protection in proving the validity of the provided signatures.