Commercial Lease With Purchase Option In Florida
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
Flexible path to buying a home: A lease option could be a suitable alternative if you aspire to become a homeowner but can't quite afford it just yet. Using this type of contract, you get a little more time to potentially save toward the down payment or work to improve your credit.
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.
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.
Do your lease terms change under new ownership? No, they do not change. Your lease is a legally binding document until it expires.
The terms of the existing lease legally bind the new owner until it expires. However, there are some exceptions, such as if the new owner plans to use the property for their residence or if the lease includes a clause allowing for termination upon sale.
Some lease agreements include an early termination provision. These provisions allow the parties to leave the lease early under specified conditions. The terms and conditions are different in each contract. Most early termination clauses include some form of penalty for leaving the lease early.
In Florida, if you have a month-to-month lease and your landlord wants to sell, they are legally required to give you a written notice of at least 15 days before the end of your rental period. This means they can't just spring a move-out date on you. Let's say your rent is due on the first of every month.
Yes, the new owner would take the property subject to the terms of the lease. If they did not want to or wanted you to vacate, they would need to negotiate this with you.
