This document is a short lease form for the premises described within the Agreement. The lessor, in consideration of the covenants of lessee, leases and demise unto the lessee, and lessee agrees to take and lease from the lessor, for the term specified, the premises described in Exhibit A which is incorporated by reference.
Long Term Lease With Option To Buy In Mecklenburg
Category:
State:
Multi-State
County:
Mecklenburg
Control #:
US-00448
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Word;
Rich Text
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FAQ
Generally 48 months is the ``sweet spot'' for leasing, but if you want a newer car - sooner - then go for the 36 month lease instead.
For example, a tenant and landlord may agree to a five-year lease with a five-year option to renew. At the end of the first five years, the tenant is given the chance to continue the lease for another five years. If you think you may renew, be sure to bring up extension provisions with your landlord.
Related Definitions Annual Lease Payments means, for each 12-month period ending on August 1, the total Lease Payments due in such period.
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option.
A lease option precludes the owner from offering the property for sale to anyone else. A renter usually pays some percentage above the standard monthly rent, which goes towards the downpayment for buying the home. Leasing options may last for any period of time, but they commonly expire after two to three years.
Rent abatement claim is the difference between the fair rental value of the premises if in full compliance with the law and the fair rental value of the premises in their unfit condition for any period of the tenant's occupancy during which it is determined that the premises were uninhabitable.
