Legal Definition of Buy-out provision: A provision in a lease which allows the tenant to purchase the property being leased | Looking to secure your leased property for the long term? Learn about the legal definition and importance of buy-out provisions in lease agreements. Find out how fixed price, appraisal-based, and gradual buy-out options can offer both tenants and landlords stability, future planning, investment potential, and flexibility. Start planning for the future and click here to know more!