What does Lease Buyout mean?

The process of purchasing the property that the tenant is currently leasing. The tenant can either purchase the property from the landlord or from a third party, and the terms of the purchase are typically negotiated between the parties. Lease buyouts can be a good option for tenants who wish to purchase a property they are already living in, but may not have the funds or credit required to purchase the property outright.

Related Terms

Housing Expense Ratio Low-Down-Payment Loan Homeowners' Association Contract For Deed Net Lease Appreciation Rural Housing Service Cost-Plus Contract Chain of Title Proceeds of Condemnation Chattel Mortgage Fannie Mae Second Mortgage Right of First offer Estoppel Certificate Parking Strip Discount Points Homesteading