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1. Parties: Identification of the Owner/Seller and Tenant/Buyer, including full legal names and addresses
2. Background: Context of the agreement, including property details and the parties' intention to enter into a rent-to-own arrangement
3. Definitions: Key terms used throughout the agreement, including 'Option Period', 'Purchase Price', 'Rent Credit', etc.
4. Property Description: Detailed legal description of the property and any included/excluded fixtures or chattels
5. Rental Terms: Monthly rent amount, due dates, payment methods, and allocation of rent credit towards purchase
6. Option to Purchase: Terms of the purchase option, including option period, exercise process, and purchase price calculation
7. Rent Credit Provisions: Details of how rent credits accumulate and apply to the final purchase price
8. Maintenance and Repairs: Responsibilities for property maintenance during the rental period
9. Insurance Requirements: Insurance obligations for both parties during rental and transition periods
10. Default and Remedies: Consequences of default by either party and available remedies
11. Exercise of Option: Process and requirements for exercising the purchase option
12. Closing Provisions: Requirements and process for completing the property purchase
13. Representations and Warranties: Statements of fact and promises by both parties
14. General Provisions: Standard contract clauses including governing law, notices, and amendments
1. Property Management: Required when a third-party property manager is involved during the rental period
2. Home Inspection Contingency: Optional clause allowing for property inspection before option exercise
3. Financing Contingency: Terms regarding buyer's obligation to secure financing, included when buyer requires mortgage
4. Early Purchase Option: Terms for exercising the purchase option before the standard option period ends
5. Assignment Rights: Terms allowing/restricting the assignment of the agreement to third parties
6. Pet Provisions: Required when pets are allowed during the rental period
7. Renovation Terms: Included when tenant/buyer is permitted to make property improvements
8. First Right of Refusal: Optional clause giving tenant/buyer priority if owner receives another offer
1. Schedule A - Property Details: Detailed property description, including lot size, building specifications, and included fixtures
2. Schedule B - Rent Payment Schedule: Monthly rent payment amounts and dates, including rent credit calculations
3. Schedule C - Purchase Price Calculation: Formula and terms for determining final purchase price, including rent credit applications
4. Schedule D - Property Condition Report: Initial condition assessment of the property at agreement start
5. Schedule E - Maintenance Standards: Detailed maintenance requirements and standards during rental period
6. Appendix 1 - Property Photos: Photographic documentation of property condition at agreement start
7. Appendix 2 - Required Insurance Coverage: Detailed insurance requirements for both parties
8. Appendix 3 - Property Rules and Regulations: Specific rules governing property use during rental period
Property
Commencement Date
Term
Option Period
Rent
Rent Credit
Purchase Price
Option Fee
Option Exercise Notice
Closing Date
Down Payment
Security Deposit
Monthly Payment
Purchase Option
Default
Force Majeure
Fixtures
Chattels
Improvements
Insurance Requirements
Maintenance
Major Repairs
Minor Repairs
Utilities
Common Areas
Property Manager
Permitted Use
Business Day
Notice
Assignment
Title
Encumbrances
Closing Costs
Due Diligence Period
Environmental Hazards
Fair Market Value
Financing
Inspection Period
Landlord's Work
Tenant's Work
Option Exercise Price
Parties
Possession Date
Property Taxes
Purchase Agreement
Rent Credit Account
Survey
Title Insurance
Transfer Documents
Zoning Laws
Rental Terms
Purchase Option
Payment Terms
Rent Credit
Property Rights
Maintenance and Repairs
Insurance
Default and Remedies
Property Access
Assignment and Subletting
Title and Ownership
Risk Allocation
Representations and Warranties
Environmental Compliance
Property Use
Utilities and Services
Improvements and Alterations
Notice Requirements
Force Majeure
Dispute Resolution
Termination
Indemnification
Compliance with Laws
Option Exercise
Property Inspection
Closing Conditions
Title Transfer
Property Taxes
Security Deposit
Financing Contingency
Insurance Requirements
Default Remedies
Governing Law
Entire Agreement
Amendment
Severability
Time of Essence
Further Assurances
Survival
Notices
Real Estate
Property Management
Legal Services
Financial Services
Insurance
Construction
Property Development
Housing
Mortgage Lending
Property Investment
Legal
Real Estate Operations
Property Management
Finance
Risk and Compliance
Contract Administration
Investment
Business Development
Operations
Customer Relations
Real Estate Agent
Property Manager
Real Estate Lawyer
Mortgage Broker
Financial Advisor
Legal Counsel
Contract Administrator
Real Estate Investment Manager
Property Developer
Risk Manager
Compliance Officer
Title Officer
Real Estate Portfolio Manager
Housing Program Coordinator
Real Estate Operations Director
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