A New Jersey rent-to-own lease agreement is a contract between a landlord and a tenant that pairs a traditional rental agreement with an option for the tenant to purchase the property at a future date. The provisions of the lease, like rent and responsibility for utilities, can be negotiated by the parties in accordance with state law. The landlord and the tenant can also negotiate over the terms of the purchase option, including whether the tenant must pay for right to purchase the property.

Seller Disclosures

If the tenant ultimately decides to purchase the property,  the landlord must disclose the following.

Lead-Based Paint Disclosure – If a unit on the property was constructed before 1978, the landlord must include this information about the risks of lead paint.

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Seller’s Property Disclosure Statement – Sellers must disclose anything that would materially affect the value of residential real estate.

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