This is a short form for an apartment or residential lease. The lease will become effective on the date provided in the document.
Lease Rental Form Agreement With Purchase Option
State:
Arizona
Control #:
AZ-LT-2
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Arizona Residential Lease - Rental - Short Form 1?
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FAQ
What is a lease-option-to-buy? A lease-option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment.
Unlike a sale agreement with seller financing, a lease-option allows the owner to continue to receive tax deductions as the owner. Interest, taxes, maintenance and depreciation may still be deducted against the rent received.
toown agreement is a deal in which you commit to renting a property for a specific period of time, with the option of buying it before the lease runs out. Renttoown agreements include a standard lease agreement and also an option to buy the property at a later time.
What is an "option to purchase" agreement? An option to purchase is an agreement that gives a potential buyer (optionee) the right, but not the obligation, to buy property in the future. The optionee must decide by a certain time whether to exercise the option and thereafter by bound under the contract to purchase.
They give the tenant the ability, prior to the conclusion of the lease term, to continue leasing the premises. An option to renew or extend the lease means that upon the tenant's exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term.