West Virginia Lease to Own Agreement
A West Virginia lease-to-own agreement is a legally binding contract between a tenant and a landlord. In this type of contract, the tenant agrees to pay the landlord a certain amount of money each month in exchange for the right to eventually purchase the property. The contract typically outlines the length of the lease and the purchase price of the property, as well as any additional fees or requirements. The tenant is also usually required to make a down payment, which is usually a percentage of the total purchase price.
The tenant is responsible for all taxes and other costs associated with the property, such as maintenance and repairs. The landlord is responsible for ensuring that the property is in good condition and that any repairs necessary are made in a timely manner. At the end of the lease period, the tenant may purchase the property from the landlord at the agreed-upon price.