A Connecticut rent-to-own agreement is a legally binding document designed to offer tenants not only a place of residence but also the unique opportunity to secure ownership of the property in the future, all at a pre-established price.
Throughout the duration of the agreement, tenants have the chance to build their credit and financial stability, potentially enhancing their eligibility for a mortgage by the time the lease term concludes. The predetermined purchase price remains a constant, offering tenants the assurance of a fixed option for acquiring the property, regardless of market fluctuations.
Landlord-Tenant Laws: Chapter 830 (Rights and Responsibilities of Landlord and Tenant).
Purchase Agreement Laws: Title 47 (Land and Land Titles) and § 20-327b.
