Lease Purchase Agreement


A lease purchase agreement is an official commitment between the property owner and the interested lessee, which offers the option to purchase the property as well, if the lessee wish to do so. Such an agreement is commenced in case of house, vehicles or real estate purchase, etc.

Sample Lease Purchase Agreement:

Agreement Number: 697/ PLA

Date: January 30th, 2011

This lease purchase agreement is prepared and registered between:

Details of the Property Owner:

Name: Ms. Tina Hudson

Contact number: 7989 465 7980

Hereinafter called as owner party

AND

Details of the Interested Lessee:

Name: Mr. George Paterson

Phone number: 7989 234 7989

Hereinafter called as lessee party

Whereas, the lessee party is interested in leasing the apartment and the owner party is agreed to put the apartment on lease by accepting the mentioned covenants & clauses.

This agreement is starting from January 31st, 2011 and is terminating on January 31st, 2012.

Term & conditions:

  • The owner party will receive $ 678 as the monthly rent on the 2nd of every month, whereas the lessee party has already paid $ 6979 as a security deposit.
  • The owner party is offering the faculties such as furniture, water supply, electricity and registration, etc.
  • The lessee party will be responsible for the maintenance of the apartment until agreement is valid.
  • The lessee party can buy the apartment within or after completing the agreement duration by a paying a purchasing price of $ 23597.
  • In case of any dispute, this agreement will be treated as cancelled.

Validation of the lease purchase agreement:

Signature of the Owner Party:                     Signature of the Lessee Party:

Tins Hudson                                                      George Paterson

Category: Purchase Agreements

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