A Washington rent-to-own lease agreement is a standard rental contract between a landlord and tenant, which includes the option to purchase the property. This agreement allows landlords to set purchase terms at a fixed or negotiable price and grants tenants the right of first refusal over other offers. When the tenant is ready to buy, they must notify the landlord, and both parties will convert the lease into a purchase agreement reflecting the predetermined terms.
Landlord-Tenant Laws: RCW Title 59 (Landlord and Tenant).
Purchase Agreement Laws: Title 64, Ch. 64.04 (Conveyances).
