You can do it, but it would be a legal minefield and either side is taking a big risk .
If we assume that the tenant pays rent for 30 years and does not get ownership until then. No-one in their right mind would go for this, unless their legal rights were water-tight.
On the other hand, if ownership passes at the beginning of the deal, the seller is handing over a valuable asset with few guarantees of getting their money.
If they charge interest then they are acting as an illegal money-lender
Either way, what happens if during the lifetime of the deal one of the people dies / gets married ( family home protection act issues) / gets divorced and their assets are being divided up by the courts / goes bankrupt and their assets are being divided up by the courts / skips the country / refuses to pay.
No idea what the tax implications are. Rent is taxed income.
no, cant see it being a good deal for anyone,