Right to use or benefit from property
Pay installments.
A hire-purchase is a contract whereby an owner of a property (lessor) lets it out on hire and promises to sell it to, or that it shall become the property of, the hirer(lessee) , conditionally on his/her making a certain number of payments
The lessee has the right to use or receive benefits from the leased property on the condition that a rent amount is paid to the owner (lessor) by installments. However, the ownership title of the property stays with the owner(lessor) and when all rent amounts had been paid as according to the contract , the lessee will automatically receive ownership title of the property