Rental Lease Agreement Document With Purchase Option In Travis
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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.
Related Definitions Annual Lease Payments means, for each 12-month period ending on August 1, the total Lease Payments due in such 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.
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.
The landlord and tenant must be present at the Sub-Registrar's office to execute the agreement. They must sign at the bottom of each page of the stamp paper on which the agreement is printed in the presence of the Registrar.
A break clause in a commercial lease (also known as 'an option to determine') is fairly common. It allows both parties flexibility if any issues or changes in circumstances occur, and provides the parties with a mechanism to terminate the agreement early if certain criteria are met.
A 'break option', 'break clause' or 'option to determine' is a clause in a lease which gives either the landlord, tenant, or both, a right in specified circumstances to terminate the lease before it's contractual expiry date.
Be sure to review the contract in its entirety and consider all written terms and conditions including penalties, renewals, terminations, and extensions when evaluating the lease term. Depending on how the contract is written, the lease term may be determined from the commencement date or possibly the possession date.