Addendum To Residential Lease Agreement With Pool
State:
Maryland
Control #:
MD-00547
Format:
Word;
Rich Text
Instant download
Description
The Addendum to Residential Lease Agreement with Pool allows Lessees the opportunity to purchase the leased property during the lease term. The form includes essential details like the property address, purchase price, and terms for exercising the purchase option. It specifies that the Lessee must notify the Lessor in writing to initiate the purchase, ensuring clear communication. The form protects the Lessee's option by preventing the Lessor from selling the property to others during the option period. Additionally, it outlines restrictions on the Lessee's ability to assign or sublease the option without the Lessor's consent. This addendum is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for real estate transactions involving lease agreements with an associated purchase option. By using this addendum, legal professionals can facilitate smooth negotiations and safeguard their clients' interests in property transactions.
