Has been referred to by many names such as "Lease Purchase" or "Rent to Own" etc. Although similar, a lease option is different and provides you with more opportunity for growth in your equity and/or investment.

A lease is a contract between the owner/landlord/optionor and the tenant/buyer/optionee, both parties are bound in a lease, the owner/landlord/optionor must lease the property to the tenant/buyer/optionee and the tenant/buyer/optionee must make lease payments to the owner/landlord/optionor - this is called a” bilateral" contract.

The option however is a "unilateral" contract in that the owner/landlord/optionor must sell if the option is exercised, but the tenant/buyer/optionee has the option to buy or walk away if they so choose leaving their down payment etc. behind.

The Lease/Puchase and the Rent to Own in theory are both bilateral contractual agreements.