This form is a contract for the lease of real estate. The property and improvements are leased for use as a retail package liquor store. The lessee agrees not to use or permit the use of the property for illegal purposes. An auction, fire or going out of business or bankruptcy sale, may not be conducted in the property without prior written consent of the lessor. the lessee shall not permit overnight lodging in the property, or the solicitation of business by hand bills in the parking areas.
Contract Lease Real Estate With Option To Purchase
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Multi-State
Control #:
US-60946
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Word;
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A lease option is a legal agreement that allows you to control a property and generate income from it, with the right (but not the obligation) to buy it later. .
The new tenant is given the choice (the lease option) to purchase the property, at a pre-set price, during or at the end of a certain period, usually around three to four years. The tenant or more likely, an investor who then goes and finds a tenant pays an "option fee" upfront to set up the deal.
Considerations for a SellerA lease purchase agreement may be attractive to a seller in a competitive market since he is able to lock in a buyer and secure a monthly payment. The seller is typically able to charge a higher rent than he would normally receive in a traditional lease.
A lease option is a legal arrangement that allows you to control and produce revenue from a house, with the right (but not the obligation) to purchase it later.
A Purchase Lease Option is a legal mechanism that allows someone to control a property and produce income from it, with the right to purchase the property at a later date, but not the obligation to do so.
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About this Form: This form is an Option to Purchase, also known as a Lease Purchase Option. A lease purchase, however, is different.This one involves an actual sale contract. Option to purchase contracts solidify terms when a buyer has the exclusive right to purchase a property. A renttoown home or "lease option" is a contract that includes both a rental and a purchase agreement. Unlike the terms of a regular lease-purchase agreement, a lease option allows the renter to forfeit the option to purchase the property if they want to move on. The timing of the transfer of ownership of the property is changed. With a "true" lease option, ownership transfers when the option is exercised. Option agreement is an alternative to purchasing a home where the home is leased to a household that may not be able to qualify for a mortgage. In a leaseoption contract, the buyer has the right to buy the property but is not legally obligated to do so.