Commercial Lease Agreement With Option To Purchase In Miami-Dade
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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.
We protect your documents and personal data by following strict security and privacy standards.
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FAQ
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.
Do your lease terms change under new ownership? No, they do not change. Your lease is a legally binding document until it expires.
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.
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.
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.
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.
An option clause is a term in a commercial or retail lease, permitting a tenant to renew their lease at the end of the initial lease period.
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.
