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Real Estate Glossary
Use this real estate glossary to research terms you might run across in a real estate transaction.
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Lease-purchase OptionNonprofit organizations may use the lease-purchase option to purchase a home that they then rent to a consumer, or "leaseholder." The leaseholder has the option to buy the home after a designated period of time (usually three or five years). Part of each rent payment is put aside toward savings for the purpose of accumulating the down payment and closing costs.
 


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