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A lease option agreement allows you to buy a property now and pay for it later, applicable to land, residential houses, and even some commercial properties. It also applies to partnerships and various other situations. Poor people are encouraged to buy now and pay later on liabilities through adverts and media, which is not necessarily a bad thing as it allows them to save money that would otherwise diminish. However, the value of the purchased item, like a sofa, may decrease over time.