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A rent to own agreement is where a tenant and landlord agree on terms for renting a property that may be bought by the tenant in the future. The tenant may have more maintenance responsibilities and pay higher rent, which can be held in an escrow account. This agreement gives the tenant the option to purchase the property within a specified period before it is offered to others. The seller is obligated to sell, but the buyer is not obligated to buy if they choose not to.