Virginia Lease to Own Agreement

The Virginia Lease to Own Agreement formally documents vital details about a double-barreled arrangement in which a tenant will enter into a standard lease of a property and have the option of making additional payments towards the purchase of this property from the landlord. In regards to the latter arrangement, this contract features a right of first refusal option. By implication, the owner must provide the tenant with the opportunity to purchase the property before considering other prospective buyers.