Wyoming Laws
Requirement to Record: Not legally required to be recorded but must be recorded to establish constructive notice to third parties.[1]
Expiration: Constructive notice does not expire by statute under Wyoming law.
Maximum Term: There is no legal maximum term for a lease with option to purchase under state law.
No Duration: Within the context of a lease-to-own agreement, if no duration is set for the option to purchase, it will expire automatically at the end of the lease.
Signing Requirements: Agreements longer than 1 year must be in writing and signed by the seller.[2]
Required Disclosures (2)
1. Lead-Based Paint Disclosure & EPA Pamphlet – Anyone renting a property built before 1978 must inform tenants of the possibility of the walls and ceiling containing lead-based paint.
2. Nonrefundable Fees – Any nonrefundable fees, such as application fees, should be specifically mentioned in the lease agreement.[3]
Seller’s Disclosures (2)
1. Property Disclosure Statement (optional) – Not required but is recommended by a seller to mention any material defects or known issues with the property.
2. Real Estate Agent Brokerage Disclosure (conditional) – If the seller hires a real estate agent, the agent is required to inform prospective buyers of any material defects which to the agent are actually known.[4]