Lease with option to buy
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
Where a lease of housing accommodations is entered into on or after May 1, 1962, and the tenant, as a part of such lease or in connection therewith, is granted an option to buy the housing accommodations which are the subject of the lease, the landlord, prior to the exercise by the tenant of the option to buy, shall not demand or receive, nor shall the tenant offer, payments in excess of the maximum rent, whether or not such lease allocates such portion or portions of the periodic payments therein provided for as payment on or for the option to buy.