Lease To Own Agreement Canada

This is a non-refundable, but often negotiable, down payment, which is usually about 2-5% of the final offer price of the home. The option counter-performance is a separate contract that gives the tenant the right, but not the obligation, to purchase the house at the end of the rental period. If the tenant does not want to pay for the optional benefit, the landlord can still have them rent the house, but they are not allowed to buy it at the end of their lease. Depending on the terms of the agreement, all or part of the option can be paid to the house for the tenant`s eventual count, but again, each contract is different. According to Article 191 of the Law on the Fair Value of the Residential Complex, if the contract does not result in a sale, the contracting authority may be taxable on the date of transfer of the property to a person for the purpose of its use as a place of residence. . . .

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