What is the definition of Rent to Own?
Rent to own is a real estate term relating to an agreement which is comprised of a rental lease, a offer to purchase (OTP), and possibly other related documents. In such case the tenant has the option to purchase the property at a specified price at a specified point in time in the future. Several fine details may be added to such agreements to determine things like rental pricing fluctuations, final sale price, discounts, transfer, renovations and so forth

It is also known as Lease to Purchase Option, Lease Option or Lease to Own.

What is the definition of a Lease Option?
A Lease Option is a real estate term relating to an agreement which is comprised of a rental lease, a offer to purchase (OTP), and possibly other related documents. In such case the tenant has the option to purchase the property at a specified price at a specified point in time in the future. Several fine details may be added to such agreements to determine things like rental pricing fluctuations, final sale price, discounts, transfer, renovations and so forth. (see Rent to Own)

What is the definition of a Lease Purchase?
Lease Purchase is a real estate term relating to an agreement which is comprised of a rental lease and a purchase agreement where the tenant/buyer has the option to purchase the property at a specified price at a specified point of time in the future from the landlord/seller.

Lease Purchase arrangements are popular because they allow tenant/buyers with bad credit to enter into agreements of sale over a period of time.
(see Rent to Own)

What is the definition of a Lease Contract?
A lease contract is an agreement, usually written, between the owner of a property and a tenant or renter who wishes to have temporary (long or short term) possession and use of the property. As a minimum, the agreement identifies the parties, the property, the term of the rental, and the rental amount for the term.

In addition to the basics of a rental (who, what, when, how much), a housing rental may go into much more detail on these and other issues.

What is the definition of Property Equity?
The equity in a property is the difference between what a property is worth and what the owner owes against that property. In other words the difference between the house value and the remaining bond or total home loan payments due for that property.

What is the definition of a Bond or Mortgage Loan?
In context of property a bond is a loan secured by real property through the use of a financing instrument called a mortgage note or bond. The mortgage note serves as evidence of the existence of the loan and the encumbrance of that property.

Features of property bonds or mortgage loans are things such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan and so forth.