Lease Agreement with Option to Purchase Real Estate

• Category: Landlord Tenant - Residential Leases - Rental Agreements
• State: Multi-State
• Control #: US-LT-RL-RA-20-1
• Format: Word; Rich Text

Description

This is a sample Lease Agreement with an Option to Purchase Real Estate. A lease purchase agreement between a tenant and a landlord allows the renter the option to eventually buy the property. Additionally, lease-option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment. Lease Agreement with Option to Purchase Real Estate is a legal agreement between a landlord (lessor) and tenant (lessee) that grants the tenant an option to purchase the landlord's real estate property during the term of the lease. This type of agreement provides the tenant with the right to buy the property at a predetermined price within the term of the lease, but it does not require the tenant to do so. The tenant may decide to purchase the property or to simply pay the rent and end the lease agreement. There are two types of Lease Agreement with Option to Purchase Real Estate: 1. Lease to Own Agreement: This type of agreement allows the tenant to rent the property with an option to own the property at the end of the lease. The tenant pays a non-refundable option fee as part of the agreement, and the landlord agrees to sell the property to the tenant at a predetermined price within the term of the lease. 2. Lease with Right of First Refusal: This type of agreement gives the tenant the right of first refusal to purchase the property if the landlord decides to sell it. The tenant does not have to pay any option fee and does not have to purchase the property at the end of the lease. The tenant must, however, be given the first opportunity to purchase the property if the landlord decides to sell it.

Lease Agreement with Option to Purchase Real Estate is a legal agreement between a landlord (lessor) and tenant (lessee) that grants the tenant an option to purchase the landlord's real estate property during the term of the lease. This type of agreement provides the tenant with the right to buy the property at a predetermined price within the term of the lease, but it does not require the tenant to do so. The tenant may decide to purchase the property or to simply pay the rent and end the lease agreement. There are two types of Lease Agreement with Option to Purchase Real Estate: 1. Lease to Own Agreement: This type of agreement allows the tenant to rent the property with an option to own the property at the end of the lease. The tenant pays a non-refundable option fee as part of the agreement, and the landlord agrees to sell the property to the tenant at a predetermined price within the term of the lease. 2. Lease with Right of First Refusal: This type of agreement gives the tenant the right of first refusal to purchase the property if the landlord decides to sell it. The tenant does not have to pay any option fee and does not have to purchase the property at the end of the lease. The tenant must, however, be given the first opportunity to purchase the property if the landlord decides to sell it.