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Save Rent to Own Contract in PNG

Save Rent to Own Contract in PNG

Aug 6th, 2022

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How to Save Rent to Own Contract in PNG

4.6 out of 5

17 votes

A rent to own agreement is a contract between a tenant and a landlord that outlines the terms of renting an apartment, with the option for the tenant to buy the property within a specified time frame. Unlike a standard lease, this agreement often requires the tenant to take on more maintenance responsibilities and pay higher rent, which may be saved in an escrow account for the purchase. The agreement grants the tenant the privilege to buy the apartment before the landlord can sell it to someone else. While the seller is obligated to sell the unit, the tenant is not required to proceed with the purchase if they choose not to.

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