The Missouri rent to own agreement entitles occupancy as well as granted rights and responsibilities for the use of a residence in exchange for an arranged monthly monetary distribution. The leasing pact confirms the requirements for the utilization of the property and procedure for payment delivery. In addition to the general leasing accord enclosed in the conditions of the document, the form also encompasses an included express option to buy. The portion of the contract devoted to the rental of the piece of real estate entails identification of the participants, the duration of time the property is to be rented for, and the security deposit amount. Property rules and procedures are listed to be followed throughout the length of the commitment.
The option for the purchase of the property upon termination of the leasing period is overviewed in several sections to plan the action should the tenant desire to take advantage of the offer. Specification as to the purchase price of the home at the time of option is to be listed in the associated sections of the document. For this type of transaction, it is customary for the owner to request a non-refundable amount as a fee for the supplied first right of refusal within the contents of the paperwork. There is also allocated space to appoint an expiry date for which after the proposal will be deemed void. The signing of the filing by both parties will essentially execute the arrangement and hold each endorsing individual to the written terms and provisions.