VIEWS: 41 PAGES: 7 CATEGORY: Real Estate POSTED ON: 12/16/2011
This Temporary Residential Lease is used when an owner of property located in Colorado sells the property and leases it back from the buyer, sometimes known as a leaseback. The purpose of the leaseback is to free up the purchaser's capital/equity while allowing the previous owner to use the property. This arrangement provides income to the buyer, which may be enough to cover the buyer's mortgage payments. Temporary Residential Lease Agreements are for short-term leases up to 90 days. The purchaser becomes the landlord and the seller becomes the tenant in this transaction. This document contains the material terms of the agreement including the property description, rental amount and the term of the lease. It can be customized to fit the specific needs of the contracting parties.
"Colorado Temporary Residential Lease - Occupied by Seller"