The right to buy a property at a specified price within a specified time. A purchase option or “option to purchase” is different from a purchase and sale contract in that the option money is not refundable and is usually not credited toward the purchase price at closing.

a legal document that limits the seller's sales options

an opportunity for a lessee to purchase equipment from the lessor that he/she had been leasing from that lessor

a standard feature of an operating lease

The opportunity for the lessee to buy the car at the end of the lease.

the option which the lessee has to buy the equipment at a stated time.

Some lease agreements have an option to purchase the leased vehicle at the end of the lease term. It may be a fixed dollar amount or the Fair Market Value.

A right given by the lessor to the lessee under a lease to continue using the equipment for a further period of time, for an agreed-upon rental payment, after the expiry of the original term of the lease.

The right granted to a tenant to purchase a building (typically the building for which they are currently in occupancy) at a specified time in the future and for a specified price. EXAMPLE: ABC Industrial Tenant signs a ten-year lease for 100% of the rentable area in a building located within Ellipsis Industrial Park. While ABC does not currently have the funds to purchase their own building, they feel that their financial situation will change over the next few years and would like the opportunity to own the building which they are occupying. ABC negotiates an option with the Landlord to purchase the building effective at any time after the fifth lease anniversary, upon 360 days prior notice to the Landlord, at a price to be negotiated between Landlord and ABC. This is an example of a Purchase Option.

Allows the lessee to purchase the vehicle upon termination of the lease agreement at a price established at inception of the lease.

At the end of your lease, you may purchase the vehicle for the exact price stated in the purchase option section of your lease agreement, plus any applicable taxes, license, title and registration fees.

A part of a lease contract giving the lessee the option to purchase the vehicle at the end of the lease.

An option at the end of the lease term, where you may purchase the equipment on lease.

Specifies a method of purchasing an item. Purchase options specify a vendor, associated lead times, and costs for this item.

An option to purchase leased equipment at the end of the lease term. Usually 10% of the original equipment cost.

Your right to buy the vehicle you have leased, before or at the end of the lease term, according to terms specified in the lease agreement. Your lease agreement may or may not include a purchase option.

An option in the lease agreement that allows the lessee to purchase the leased equipment at the end of the lease term for either a fixed amount or at the future fair market value of the leased equipment.

In real estate, an agreement under which a portion of monthly rent may be credited toward eventual purchase of the property. In automobiles, the portion of a lease that establishes the amount a lessee may pay the lessor at the end of the lease to purchase the vehicle. The price is usually the residual value.

A provision that allows the lessee to purchase the equipment at the end of the lease. The purchase price may be stated as a specific amount or at fair market value.

A provision in the lease which gives the lessee the right to purchase the equipment at the end of the lease for an amount specified or its future fair market value. ecourse - An agreement between the lessor and the seller which allows the lessor to take recovery action against the seller should the lessee default.

A clause in a lease granting the lessee an option to purchase the leased property on or before the lease termination date, usually at a specified price.

An option in a lease which allows the lessee to purchase the vehicle at the end of the lease term for a specified price.

An option to purchase at a future date.

See " End of Lease Options"

A lessee option to purchase the leased asset from the lessor at the end of the lease term for either a fixed amount or at the future fair market value of it.

A provision, assuming the lessee is not in default under the terms of the lease, by which a lessee has the right to purchase the equipment at the end of the lease. The purchase option may be stated at a specific dollar amount or at fair market value.

A stipulation by which the lessee has the right or obligation to purchase the equipment at the end of the lease term.

An option given to the lessee to purchase the equipment from the lessor, usually as of a specified date.

This is the option to purchase the equipment upon lease termination as previously stated.

Most closed-end leases grant the lessee an option to purchase the vehicle at the end of the lease. The end-of-lease purchase price is often referred to as the residual value. Check the lease contract before signing to ensure that there is a purchase option. The lessor must disclose the purchase option price prior to your signing the lease contract.

Gives the tenant an option to purchase the facility at the end of the lease term. This provision should specify not only the option price but also when and how the option must be exercised.

Option to purchase leased property either at the end of the lease term or if some other specific criteria are met by the lessee.

A provision, assuming the lessee is not in default under the terms and conditions in the lease contract, providing the lessee an option to purchase the leased equipment at the end of the lease term for either a fixed amount or at the future fair market value of the leased equipment.

Option extended to the lessee, at the end of a lease contract, to purchase the vehicle at the pre-determined purchase price. The pre-determined purchase price is normally the stated residual value in the lease contract.

Typically, the option to buy a leased auto usually during the life of a lease (lease buy out) or when the lease ends.

A clause in the contract giving the lessee an option to purchase the asset at the maturity of the lease term.

A document of a lease in which the lessee is granted the right to purchase the leased equipment , asset, or property at the end of the lease term.

A provision by which you have the right to purchase the asset at the end of the lease term, either at a predetermined amount or its fair market value.

1. In real estate, an agreement where a portion of monthly rent can be credited toward the eventual purchase of the property. 2. The portion of a vehicle lease that determines how much a lessee pays the lessor at the end of the lease to buy the vehicle. The price is usually the residual value.

Most Purchase Options are drafted on separate forms. Purchase Option forms may state a specific purchase price or percentage of equipment cost to be paid, the terms and conditions for Purchase Option exercise and any other provisions, such as the method employed for discrimination of "Fair Market Value" (if applicable), established by the Lessor.

The lessee's right to purchase the leased vehicle, either at the end of the lease or during the lease term, as specified in the lease agreement. The lease agreement may or may not include a purchase option.

The Purchase Option price is agreed on between you and the lessor at the time you sign your lease. This is the price at which you can purchase the property if you decide to exercise your Purchase Option at the end of your lease.