rent-back agreement

Definition

An arrangement where sellers continue renting their former home from buyers after closing, usually for a short period. It's the awkward transition period where you're both landlord and confused.

Example Usage

The sellers requested a 30-day rent-back, so technically we own a house we've never been inside.

Origin

Transaction accommodation that became common in competitive markets

Fun Fact

Rent-backs get legally complicated fast—you're a landlord subject to tenant laws, often without proper insurance coverage.

Source: Real estate transaction terminology

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