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    Agreement of Lease With Option To Purchase

    Uploaded by

    joshboracay
    This document is an agreement of lease with an option to purchase between a seller and purchaser. It establishes a lease for a property described in a schedule for a term of years, with the purchaser having an option to purchase the property by a certain date for an agreed upon price. The agreement outlines the rental payments and responsibilities of maintenance, taxes, and possession in the event of nonpayment of rent. It provides that if the purchaser exercises the option to purchase, the seller will convey the property via deed free of liens and encumbrances.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Agreement of Lease With Option To Purchase

    Uploaded by

    joshboracay
    247 views2 pages
    This document is an agreement of lease with an option to purchase between a seller and purchaser. It establishes a lease for a property described in a schedule for a term of years, with the purchaser having an option to purchase the property by a certain date for an agreed upon price. The agreement outlines the rental payments and responsibilities of maintenance, taxes, and possession in the event of nonpayment of rent. It provides that if the purchaser exercises the option to purchase, the seller will convey the property via deed free of liens and encumbrances.

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    Agreement of Lease With Option to Purchase

    Original Title

    Agreement of Lease With Option to Purchase

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    © © All Rights Reserved

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    This document is an agreement of lease with an option to purchase between a seller and purchaser. It establishes a lease for a property described in a schedule for a term of years, with the purchaser having an option to purchase the property by a certain date for an agreed upon price. The agreement outlines the rental payments and responsibilities of maintenance, taxes, and possession in the event of nonpayment of rent. It provides that if the purchaser exercises the option to purchase, the seller will convey the property via deed free of liens and encumbrances.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    247 views2 pages

    Agreement of Lease With Option To Purchase

    Uploaded by

    joshboracay
    This document is an agreement of lease with an option to purchase between a seller and purchaser. It establishes a lease for a property described in a schedule for a term of years, with the purchaser having an option to purchase the property by a certain date for an agreed upon price. The agreement outlines the rental payments and responsibilities of maintenance, taxes, and possession in the event of nonpayment of rent. It provides that if the purchaser exercises the option to purchase, the seller will convey the property via deed free of liens and encumbrances.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 2

    AGREEMENT OF LEASE WITH OPTION TO PURCHASE

    This AGREEMENT made this ______ of ____________, 200__ between:


    _____________________, residing at _____________, herein referred to as the
    SELLER, and
    _____________________, residing at _____________, herein referred to as the
    PURCHASER,
    WITNESSETH:
    WHEREAS, the SELLER owns a certain property located at ________________,
    described as follows: _________________, and
    WHEREAS, the PURCHASER desires to rent said property with option to
    purchase same;
    WHEREFORE, it is mutually agreed:
    1. The SELLER hereby leases to the PURCHASER and the PURCHASER hereby
    rents from the SELLER for a term of ___________ years from this date at a yearly rental
    of ___________ years from this date at a yearly rental of ____________
    (P___________), payable in equal monthly installments of ______________
    (P_________) in advance on the first day of each and every month during the period
    foresaid, the said property with all its fixtures and accessories described in the Schedule
    hereto attached and made an integral part hereof;
    2. The SELLER warrants to the PURCHASER that he is the absolute owner of
    the said property, free from all liens and encumbrances;
    3. The PURCHASER shall during the period of the lease exercise the care and
    diligence in the use of said property and shall, at his cost and expense, keep the same in
    good and usable condition for which it has been leased;
    4. That until the SELLER regains possession of the property herein leased in
    accordance with the terms hereof, the PURCHASER, at his own cost and expense, shall
    pay all taxes and assessments levied and payable on said property;
    5. If the PURCHASER fails to pay the rental when same becomes due, then the
    SELLER, at his option and without prior notice or demand, may take or regain possession
    of the said property, and for this purpose may enter the premises without liability to any
    suit, action, or proceeding by the PURCHASER;

    6. Upon the SELLER regaining possession of said property pursuant to the above
    provision, this AGREEMENT shall forthwith terminate, without prejudice to the right of
    SELLER to rentals in arrears, if any;
    7. That if the PURCHASER shall give written notice to SELLER on or before the
    ____________ day of ____________, 200_ of his desire to purchase the property leased
    herein, the SELLER upon receipt of the agreed price of ___________________
    (P________), by appropriate deed SELL, TRANSFER and CONVEY said property to
    PURCHASER together with all the fixtures and accessories thereof, free from all liens
    and encumbrances.
    IN WITNESS WHEREOF, the Parties hereto have signed this AGREEMENT the
    day and year first above written.
    (Sgd.) __________________________
    (Seller)
    (Sgd.) ___________________________
    (Purchaser)

    SIGNED IN THE PRESENCE OF:


    _________________________
    ________________________
    (Witness)
    (Witness)
    ACKNOWLEDGEMENT

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