Final answer:
The features of lease provisions such as right of first refusal, option to buy, and lease purchase are commonly found in real estate transactions and leasing agreements.
Step-by-step explanation:
The features of lease provisions such as right of first refusal, option to buy, and lease purchase are commonly found in real estate transactions and leasing agreements.
Right of first refusal gives the tenant the opportunity to match or exceed any offer made by a third party if the landlord decides to sell the property.
Option to buy grants the tenant the right to purchase the property at a predetermined price within a specified period of time.
Lease purchase combines a lease agreement with a purchase agreement, allowing the tenant to lease the property with an option to buy it at a later date.