From: "veera" 
Newsgroups: alt.building.realestate
Subject: Seller tips from Dale Warfel - What is a lease option?
Date: 2 Oct 2006 01:19:14 -0700
   posting-account=_XR_tw0AAABwqi1gBiFfhfvge_HO2fpn

When a renter signs a lease with an option to purchase a property for a
specific price within a certain time frame, that is called a lease
option. In most lease-option situations, a portion of the rent is
applied to a future down payment.
Lease options are most popular among buyers who don't have enough funds
for a down payment and closing costs.