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The Lease To Purchase Agreement serves as a flexible solution for property transactions in England and Wales where immediate purchase isn't feasible or desired. It provides tenants with the opportunity to secure future ownership while occupying the property, and gives property owners a committed tenant with a vested interest in maintaining the property. The agreement typically includes detailed provisions for both the lease period and the purchase option, including rent payments, maintenance responsibilities, option price, and the mechanism for exercising the purchase option. This arrangement is particularly useful for buyers who need time to arrange financing or want to test the property before committing to purchase.
