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Louisiana Rent-to-Own Lease Agreement

A Louisiana rent-to-own lease agreement enables a tenant to occupy a residential property on a rental basis while preserving the option to purchase said property on predetermined terms. Prior to entering such lease, both the landlord and tenant alike must disclose information applicable to the sale. The parties, for instance, may record the total purchase price as well as establish a fixed period in which the tenant may exercise their right to buy. The tenant will be housed in the premises before deciding if they wish to buy. Therefore, they can better determine if purchasing is a viable option to explore. Once the tenant makes a decision, they must notify the landlord/property owner via a written document and within the set timeframe.

Seller Disclosures

The two (2) disclosure forms below must be used when selling a property in Louisiana. Note that some properties may not require such disclosures, such as homes built after 1978 or non-residential property.

Lead-Based Paint Disclosure – Sellers of homes built prior to 1978 must disclose the use of lead-based paint on the premises.

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Residential Property Disclosure (§ 9:3198) – Sellers of residential properties must provide buyers with a full disclosure statement detailing the material condition of the property.

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