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Wisconsin Rent-to-Own Lease Agreement

A Wisconsin rent-to-own lease agreement establishes a usual lease arrangement between a landlord and a tenant, but it also has an option for the tenant to purchase the property. It consists of the average features in a lease agreement, including but not limited to the monthly rent, security and pet deposits, and tenant responsibilities. Next comes the option to buy the property explaining the requirements, arrangements, and purchase price that the tenant a landlord negotiated. The tenant pays the agreed monthly rent until they want to purchase the property. Sometimes rent paid can apply to the purchase price of the property. The seller has to issue certain disclosures per Wisconsin law.

Seller Disclosures

Include if the tenant decides to buy the property.

Condominium Addendum to Real Estate Condition Report – If the property is a condominium, this addendum provides additional information about the property including but not limited to the name, unit number, and associated fees.

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Lead-Based Paint Disclosure – Individuals buying a residence constructed before 1978 have to receive a disclosure notifying them of any history of toxic lead-based paint use on the property.

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Real Estate Condition Report – Wisconsin law requires sellers, not including those listed in 709.02, to produce a material condition report within ten (10) days of accepting a purchase offer.

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