A Connecticut lease-to-own lease agreement initially acts as a standard rental lease between a landlord and their tenant. However, the contract enables the renter to purchase the property during their tenancy. This buy option may or may not be exercised, depending on the tenant’s intentions. However, the possibility will remain viable as long as the lease stays in effect. Terms for purchase are usually included on the initial lease-to-own document, which pre-sets the eventual purchase price and any financing options.

Seller Disclosures

If the tenant decides to buy the property, the landlord must provide them with all of the disclosures required by state and federal law.

Lead-Based Paint Disclosure – Dwellings constructed prior to January 1st, 1978, may contain lead-based paint. For that reason, sellers of such properties must provide a disclosure to potential buyers.

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Residential Property Condition Disclosure Form (§ 20-327b) – The Connecticut Department of Consumer Protection obliges sellers of a residential property to complete this disclosure form and present it to any potential buyer PRIOR to any binder or contract.

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