A Tennessee rent-to-own agreement is a hybrid form used by homeowners to lease real estate to tenants with the added option of purchasing the property at the lease’s end. This agreement includes standard lease elements such as rental amount, lease duration, and both parties’ rights and responsibilities. Additionally, it integrates terms outlining how the tenant can purchase the property, necessitating the landlord to assess the tenant’s financial capability to ensure they can meet the monthly rent and potential purchase.
Landlord-Tenant Laws: Title 66, Ch. 28 (Uniform Residential Landlord and Tenant Act).
Purchase Agreement Laws: Title 66, Ch. 5 (Conveyances of Property).
