The Mississippi rent to own agreement materializes a complete registration of facts involving an individual gaining permitted use of a property in exchange for predefined rental payments. The provided form includes a supplementary portion to issue an option to by the home upon completion of the leasing term. Documented in the contract is an account of the participants of the transaction to recognize those taking part in the arrangement and identify the obtained rights the agreement delivers. It additionally creates the establishment of the terms supporting the rental obligations of both the tenant and landlord of the residence. Unlike a typical residential lease, the electronic filing serves to denote separate provisions for the first right of refusal to purchase once the lease is terminated. It apportions sections to designate the purchase price amount for the home, specified option fee, and expiration date for the offer. The signature page found at the back of the file package presents blank spaces for a corroborating witness and/or agent to verify the endorsement of the document.
Mississippi Rent to Own Agreement Form
Updated on December 17th, 2020