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New Mexico Rent-to-Own Lease Agreement

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New Mexico Rent-to-Own Lease Agreement

Updated April 14, 2023

A New Mexico rent-to-own lease agreement is a rental contract between a landlord and tenant and allows the tenant to buy the property. The terms of the purchase are usually negotiated at the time of signing the lease such as the purchase price and when the closing needs to occur. If the tenant decides to buy the property in accordance with the terms in the lease, a purchase contract will commonly be drafted that matches the already negotiated terms.

Rental Application – Recommended being completed by a tenant, prior to lease signing, to ensure their income and employment are verified.