Lease with Option to Purchase
Landlord and Tenant
This lease with option to buy agreement template gives the landlord and tenant the flexibility to structure a purchase option in the event the tenant eventually wants to buy the property.
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About This Form
A Lease with Option to Purchase is a legal agreement that allows a tenant to lease a property with the option to purchase it at a later date. This arrangement provides flexibility for both the landlord and tenant, as it allows the tenant to potentially buy the property after a set period while the landlord continues to receive rental income. The agreement typically outlines the terms of the lease, the purchase price, and the option period during which the tenant can exercise their right to buy. It is an ideal solution for tenants who are considering homeownership but are not yet ready to commit to a purchase.
When to Use This Form
- When a tenant is interested in buying the property in the future
- If a landlord wants to offer a purchase option to tenants
- When both parties want to establish terms for a potential sale
- If a tenant needs time to secure financing before purchasing
- To lock in a purchase price for a future transaction
Key Features
- Combines a lease agreement with a purchase option
- Outlines terms for both leasing and purchasing
- Provides flexibility for tenants considering buying
- Allows landlords to secure potential buyers
- Can include terms for rent credits towards purchase
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