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A rent-to-own agreement is a document between a tenant and landlord where the tenant can potentially buy the rented apartment within a specified period. The tenant may have more maintenance responsibilities and pay higher rent, which can be held in an escrow account. This agreement allows the tenant a privilege to purchase the premises before the owner offers it to a third party. The seller is obligated to sell, but the buyer is not obligated to buy if they choose not to become a purchaser.