Commercial Lease Agreement With Option To Purchase In Florida
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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.
How to write a Florida lease agreement Begin with the basics. Include the names and addresses of both the landlord (lessor) and the tenant (lessee), along with the residential property's address. Specify the term of the lease. Address security deposits. Include maintenance responsibilities. Add additional provisions.
Once properly executed and signed, a Florida lease agreement does not require notarization as a validity requirement. While all documents recorded in public records are notarized, notarizing a commercial lease agreement will not affect its validity – neither positively nor negatively.
There are many reasons why a Landlord and Tenant may choose to include an “option” in a commercial lease. The most common type of option is one that gives the Tenant the right to extend the lease term, usually for additional — sometimes two or more — terms of equal length to the original term.
Lease agreements are considered to be legally binding once the document is signed by both parties.
Contact Eko Law today to work with our business attorney in Clearwater. While you can legally write your own commercial lease agreement in Florida, the risks often outweigh the benefits. For most landlords and business owners, the expertise of a qualified attorney is invaluable in this process.
To ensure a Florida lease agreement is legally valid, certain requirements must be met. These include having a written agreement, disclosing necessary information, adhering to security deposit limits, and protecting tenant rights and protections.
Definition: an agreement to keep open for a specified period of time an offer to sell or lease real property. Pronunciation: \ˈäp-shən\ \ˈkän-ˌtrakt\ Used in a Sentence: An option contract can be used to give a buyer time to resolve questions of title.
