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Georgia Rent-to-Own Lease Agreement

A Georgia lease-to-own lease agreement acts to bind a tenant and landlord into a rental contract with a specific provision allowing for the purchase of the property. Therefore, a tenant may rent the residential space for a certain amount of time before deciding to buy the property. In their agreement, the landlord/property owner and the tenant must establish terms that apply to the tenancy as well as the potential purchase. Note, however, the tenant reserves the right to deny the buy option within reason. Landlords should anticipate such a decision by maintaining the property in sellable condition or asking the tenant for further assurance. Either way, the contract stands to benefit both parties in cases when they wish to enter a rental contract before transferring ownership officially.

Seller Disclosures

If applicable to the transaction, a seller must utilize the following disclosure forms to inform buyers of any lead-based paint or material defects known of the property. Note that certain purchases will not require disclosure forms.

Lead-Based Paint Disclosure – Used exclusively when a property built prior to 1978 is being sold and purchased.

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Seller’s Property Disclosure Statement (§ 44-1-16) – Though not required by law in the State of Georgia, there exists a general requirement for sellers to disclose any material defects to potential buyers. For instance, issues or conditions that would not otherwise be evident to the buyer.

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