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Rent to Own Contract is a contract that is similar to the file named Rent to Own Agreement. Signing this file also means that the renter shall take possession of the property on a certain date and has the right to use the property until the agreement is terminated, and the ownership of the property shall transfer to the renter upon the full completion of this agreement. To be honest, the rent to own is a transfer of the ownership.

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This Contract of Lease with Option to Purchase (Rent-to-Own Contract) made
and executed this ____of __________ 20___ Manila, Philippines by and between.
__________________________________, Filipino, of legal age, single/married to,
with post address at ________________________, hereinafter referred to as
__________________________________, Filipino, of legal age, single/married to,
with postal address __________________________, hereinafter referred to as
THAT, for and in consideration of the payment of rent and the faithful
compliance by the LESSEE/BUYER of all the stipulations and covenants hereinafter
contained, the LESSOR/SELLER has agreed to lease unto the LESSE /BUYER the
premises located at _______________________________, City of Manila under the
following terms and conditions.
1. PURPOSE: That the premises hereby leased shall be used exclusively by the
LESSE/BUYER for residential purposes only and shall not be diverted to
other uses. It is hereby expressly agreed upon that if at any time the premises
are used for other purposes, the LESSOR/SELLER shall have the right to
rescind this contract without prejudice to its other rights under the law.
2. TERM: The term of this nonrenewable lease is for ______________ months
from _____________________ to ________________ inclusive.
3. RENTAL RATE: The monthly rate for the leased premises shall be in
PESOS: ______________________ [_______________], Philippine currency. All
rental payments shall be made payable to ______________________.
4. DEPOSIT: That the LESSEE/BUYER shall deposit with the LESSOR/SELLER
upon signing of this contract and prior to move in an amount equal to ten
percent (10%) of the selling price or the sum of PESOS:
_____________________________________________________, Philippine currency.
5. RENTAL PAYMENT: The LESSE/BUYER shall issue, likewise, upon signing
of this contract and prior to move in, Thirty (30) post-dated checks to cover
monthly rental for the months of _________________ to __________________,
each check dated on the _____ day of each month.
6. DEFAULT IN PAYMENT: In case of default by the LESSEE/BUYER in the
payment of the rent, such as when the checks are dishonored, the
LESSOR/SELLER, at its option may terminate this contract and eject the
Rent to Own Contract
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