Common Contracts
1 similar Lease Purchase Agreement contracts
Lease purchase agreement commercial propertyLease Purchase Agreement • June 17th, 2023
A commercial lease agreement with option to purchase, also known as a lease option.4 min read Updated October 21, 2020: A commercial lease agreement with an option to purchase, also known as a lease option, is a form of commercial real estate contract in which the tenant and the property owner agree that there is an option for the tenant to buy said property at the end of a stipulated rental period. The agreement usually specifies the period within which the tenant has an opportunity to purchase the rented property. The parties agree on the following: Sale price and the contract period. The amount of the monthly rent to be credited toward the eventual purchase. Who will be responsible for day-to-day property maintenance issues. Purchase Price Depending on the circumstances, the legal agreement or contract may or may not include a set price. When it does, however, the price might be a value agreed upon or the value appraised at the time of purchase. During lease option contracts, the in
