Who needs a Lease to Purchase form?
The landlord and the tenant, acting in the roles of a seller and a buyer, enter into a lease with option to buy real estate. In this case they conclude a lease to purchase option agreement.
What is the Lease to Purchase agreement form for?
The Lease to Purchase form is a classic lease, which provides the option of purchasing the leased property. The lease option agreement establishes the terms and amount of a possible purchase.The possibility of buying a property can be maintained throughout the duration of the contract or, determined by the particular time interval. The tenant can gain credit towards the purchase price with each on-time rental payment.
Is the Lease to Purchase form accompanied by other forms?
This form is designed to accompany a Residential Lease Agreement - the main contract governing the lease conditions.
When is Lease to Purchase contract form due?
Validity time of the Lease Purchase Agreement is indicated on a separate line of this form.
How do I fill out Lease to Purchase form?
To correctly fill the contract, you must define the following variables: 1) term of the option; 2) option consideration; 3) purchase price; 4) choice of law and venue. In the end, the contract is required to be certified by the signature of each party.
Where do I send Lease to Purchase form?
Two copies of the contract shall be kept by the contracting parties or their authorized representatives. One copy is held by the broker responsible for the transaction.