by Vena Jones-Cox Question: I really don’t understand the difference between a lease/option and a land contract. Why would I want to offer a seller one as opposed to the other? -A.S, Atlanta Answer: The IRS also views these strategies differently. The seller in a lease/option treats the income as rent, reporting it on a [...]
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What’s the Difference Between a Lease-Option and a Land Contract? (Part 1 of 2)
by Vena Jones-Cox Question: I really don’t understand the difference between a lease/option and a land contract. Why would I want to offer a seller one as opposed to the other? -A.S, Atlanta Answer: I can understand your confusion: on the surface, a lease with option to buy and a land contract (or contract for [...]