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Massachusetts Lease Purchase Agreements Package

Massachusetts Lease Purchase Agreements Package

Category:

Real Estate - Lease Purchase

State:

Massachusetts

Control #:

MA-P033-PKG

Format:

Instant download

Description

This package contains the forms that are necessary for sellers and purchasers to enter into a legally binding obligation to sell and purchase real property at the expiration of or during a lease term. In a lease purchase agreement, a party agrees to purchase a particular piece of real property within a certain timeframe, usually at a price determined beforehand. With this package, you will find the essential forms to assist you in successfully entering into and executing a commitment to purchase or sell real property. The documents in this package include the following:

1) Contract for Lease and Mandatory Purchase of Real Estate-Specific Performance Clause;

2) Contract for Lease and Purchase of Real Estate- Purchase by Date or Leave;

3) Personal Guaranty of Contract for the Lease and Purchase of Real Estate; and

4) Residential Real Estate Sales Disclosure Statement.

Purchase this package and save up to 30% over purchasing the forms separately!

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Once you’ve completed the Massachusetts Lease Purchase Agreements Package, forward it to your attorney for validation. This additional step is important to guarantee you’re completely safeguarded. Become a member of US Legal Forms now and enjoy access to a vast array of reusable samples.

If this is a state-specific form, check its relevance in your state.
Review the description (if available) to confirm if it’s the correct sample.
View additional content with the Preview option.
If the document matches all of your specifications, click Buy Now.
To set up your account, choose a pricing plan.
Register using a credit card or PayPal account.
Download the template in your preferred format (Word or PDF).
Print out the document and provide your or your business’s details.

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FAQ

A lease purchase agreement in real estate is a rent-to-own contract between a tenant and a landlord for the former to purchase the property at a later point in time. The renter pays the seller an option fee at an agreed-upon purchase price, giving them exclusive rights to buy the property.

The California Residential Lease Agreement-With Option to Purchase is a form used specifically for a purchase agreement that begins as landlord-tenant lease agreement.

The Lease Must be in Writing It does not matter if the lease is handwritten or typed. If the lease is for more than one year, it must be in written form and contain the following terms.

You sign one of two types of agreements. You and the landlord set a purchase price. You pay an option fee. You decide how long the rental term will be. Maintenance roles will be defined. Your monthly payment covers rent and down payment savings. When the rental term nears its end, you apply for a mortgage.

The Basic Structure of a Lease Purchase In a lease purchase contract, the buyer and seller agree to a lease period followed by sale of the property when the lease ends. This type of agreement combines both a lease and a purchase with the tenant/purchaser securing the option to purchase the house.

The Lease Must be in Writing It does not matter if the lease is handwritten or typed.

Document everything in writing. Keep a written record of everything that is agreed on, and be careful to use the right terms in the agreement. Consult an attorney. Use separate agreements. Keep the term short. Take a security deposit. Pay like an owner. Factor in repair costs. Don't give large rent credits.