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Contract for deed

Posted on: Sun, 02/01/2009 - 01:35
Contract for deed

Is a Contract For Deed the same as a Lease Option?

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Posted on: Sun, 02/01/2009 - 01:48 #1
Contract Definitions

Contract For Deed
A contract in which a property title is transferred only after the buyer makes a certain number of monthly payments. also called contract sale.

Lease Option
A contract in which an owner leases his house(usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance.

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Posted on: Sun, 02/01/2009 - 01:52 #2
Thank you!

sistreat wrote:
Contract For Deed
A contract in which a property title is transferred only after the buyer makes a certain number of monthly payments. also called contract sale.

Lease Option
A contract in which an owner leases his house(usually for one to five years) to a tenant for a specific monthly rent, and which gives the tenant the right to buy the house at the end of the lease period for a price established in advance.

Thank you!