Addendum To Rental Agreement
State:
Arizona
Control #:
AZ-00547
Format:
Word;
Rich Text
Instant download
Description
The Option to Purchase Addendum to Residential Lease Agreement provides a structured method for a lessee to acquire property they are renting. Key features include granting the lessee an option to purchase the leased premises at a specified price, the requirement to provide written notice to exercise this option, and stipulations regarding the inability to assign or transfer this option without the lessor's consent. Additionally, this addendum ensures that the covenants remain binding on the heirs and assigns of both parties. Filling out the form requires clear identification of the lessor and lessee, property details, purchase price, and dates for notice and termination. Legal professionals such as attorneys, partners, and paralegals find this form useful in real estate transactions, helping clients secure a potential purchase while renting. It's also relevant for owners and associates looking to structure lease agreements with purchase options, facilitating better negotiation and agreement clarity.
How to fill out Arizona Option To Purchase Addendum To Residential Lease - Lease Or Rent To Own?
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