In finance lease agreement, the option for the lessee to purchase the property or equipment at a specific price is known as __________________________.

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A balloon payment in a finance lease agreement refers to a large, final payment at the end of the lease term, which can give the lessee the option to purchase the leased asset. This allows the lessee to acquire the asset at a predetermined price, often significantly lower than the market value at the time of purchase.

In Finance Lease Agreement, the Option for the Lessee to Purchase