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Georgia Rent-to-Own Lease Agreement

A Georgia rent-to-own lease agreement is a rental contract that also allows the tenant to purchase the property during its term. The landlord will screen the tenant like a standard lease. If the tenant decides to buy, the lease will convert to a purchase agreement. If the tenant does not purchase, the lease will end and the tenant will be forced to vacate.
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Georgia Laws

Requirement to Record: Options to purchase are not legally required to be recorded to be enforceable between the original parties. However, an option must be recorded to preserve legal priority with regard to a third party.[1]

Expiration: Georgia law does not establish a specific expiration period for constructive notice. Therefore, by default, notice expires when the option expires.

Maximum Term: When created, options must either vest or terminate within 21 years after the death of an individual then alive; or within 360 years after its creation.[2]

No Duration: If no duration is established within the document, the option is invalid.[2]

Signing Requirements: Must be in writing and signed by the seller.[3]

Required Disclosures (4)

1. Landlord’s Name and Address – At the start of the lease period, the landlord (or authorized agent) must provide the tenant with their name(s) and address(es). Any changes to this information must be forwarded to the tenant within 30 days.[4]

2. Lead-Based Paint Disclosure & EPA Pamphlet – Per federal law, if the residential dwelling was built prior to 1978, this document must be attached to the rental contract.[5]

3. Move-in / Move-out Inspection Form – Before collecting the security deposit, the landlord must share the current condition of the premises.[6]

4. Flood Disclosure (conditional) – If there has been flooding three or more times in the last five years, the tenant must be notified prior to move-in.[7]

Seller’s Disclosures (1)

1. Seller’s Property Disclosure Statement (optional) – A specific, standard disclosure form is not required by law in the State of Georgia. However, it is considered best practice to provide one for the buyer.

Sample

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