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West Virginia Rent-to-Own Lease Agreement

A West Virginia rent-to-own lease agreement is a traditional lease agreement with an added option to buy the property. It is made up of the items that are normally in a lease agreement, including but not limited to the monthly rent, security and pet deposits, and tenant responsibilities. Then comes the option to purchase the property explaining the requirements, purchase price, and arrangements that the landlord and tenant negotiated. The tenant usually pays the agreed monthly rent until they inform the landlord that they are ready to purchase the property. Depending on the deal between the parties, the rent paid can apply to the purchase price of the property. The landlord has to issue certain disclosures per West Virginia law.

Seller Disclosures

Include when the tenant decides to purchase the property.

Lead-Based Paint Disclosure – The seller must indicate the existence of toxic paint for the sale of any property constructed before 1978.

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Residential Property Disclosure – Notifies the buyer of the overall material condition of the residence.

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