Alabama Lease to Own Agreement
The Alabama Lease to Own is a contract used when an individual may desire to purchase a property in addition to renting it. Essentially two contracts in one, the agreement requires the parties (Lessee and Lessor) agree on a property purchase price in addition to outlining the typical conditions of a lease agreement. Lease to own agreements also gives more responsibilities to the tenant, such as requiring all repairs to be made. It is recommended that the tenant have an appraisal done on the property to ensure a fair price is set.