HomeTermsCompareFinance Lease With Option To PurchaseThe definition for Lease With Option To Purchase:A lease under which the lessee has the right to purchase the property. The price and terms of the purchase must be set forth for the option to be valid. The option may run for the length of the lease or only for a portion of the lease period. Legal Description: A description by which property can be definitely located by reference to surveys or recorded maps. Sometimes referred to simply as the legal. Similar MatchesBona Fide PurchaserBona Fide PurchaserA purchaser in good faith. for valuable consideration, without notice or knowledge of adverse claims of others. Sometimes abbreviated B.F.P. Click to compare definitions of Lease With Option To Purchase Click to view definitions beginning le |